Vodafone Idea Limited announce acquisition of 50 MHz of spectrum across low band and mid band spectrum (900 MHz, 1800 MHz and 2500 MHz) in 11 circles at a total commitment of INR 3,510 Crore, in the spectrum auction concluded today. In addition to renewal of 900 MHz spectrum in UP West and West Bengal circles, Company has also enhanced its 900 MHz spectrum holding in 7 circles, namely Andhra Pradesh, Tamil Nadu, Karnataka, Punjab, Rajasthan, UP East and Kolkata, enabling it to dedicate adequate 900 MHz band spectrum for 4G thereby enhancing the experience of its 4G customers in these large markets, particularly the indoor experience. In circles of Andhra Pradesh, Tamil Nadu (excluding Chennai), Punjab and large parts of Karnataka and Uttar Pradesh (East), 4G on sub GHz 900 band will be offered for the first time which will result in better coverage and experience.

In addition to 900 MHz spectrum, the company has also acquired 1800 MHz spectrum in Madhya Pradesh and 2500 MHz spectrum in Bihar, which will help in increasing the network capacity quickly. Company already holds sufficient and competitive 5G spectrum in its 17 priority circles. This spectrum acquisition is in line with the long-term strategic plan of the Company to offer superior experience to its customers as well as to effectively utilize the spectrum across existing and emerging technologies.

During the calendar year 2024, Company has raised INR 24,000 Crore of equity (including proposed preferential issue of INR 2,458 Crore to Nokia and Ericsson which is subject to approval by shareholders) and is in active discussions with its lenders to raise debt funding of upto INR 25,000 Crore. This spectrum acquisition along with the comprehensive fund raise (equity and debt) will empower the Company to work towards executing its well-defined strategy including expansion of its 4G coverage and launch of 5G services and to participate in the large and significant opportunities offered by the Indian wireless sector. The Company, with a strong subscriber base of 212.6 million (March 31, 2024), 4G population coverage of over 1 billion Indians, competitive spectrum profile, extensive distribution reach and a well-established brand along with differentiated digital offerings, is well positioned to effectively compete in the market.