Vi CEO Akshaya Moondra recently communicated to the company's approximately 220 million customers about the future investment plans focusing on expanding 4G services and rolling out 5G technology. Moondra emphasized that the recently concluded ₹18,000-crore follow-on public offer (FPO), subscribed seven times, marks a significant milestone for Vi.
In his message to customers, Moondra highlighted Vi's readiness for a new phase of growth and innovation, supported by its advanced network infrastructure and technology. He assured customers that upcoming investments would prioritize expanding 4G coverage and introducing 5G services, ensuring that Vi continues to deliver high-quality services.
Recent reports suggest that Vi is in advanced discussions with European network equipment vendors Nokia and Ericsson to upgrade its 4G network, with purchase orders expected by June-July. These orders may also include initial contracts for 5G deployment.
Vi has earmarked a significant portion of the funds raised through the FPO for 4G expansion and 5G rollouts. Out of the ₹18,000 crore raised, over ₹12,000 crore will be allocated for these purposes, with ₹5,720 crore specifically allocated for 5G deployments. Moondra expressed gratitude to investors for their trust and confidence in Vi's brand, as evidenced by the success of the FPO.
