Vodafone Idea expects 5G rollout in 6-9 months after FPO

Mumbai: Ahead of its Rs 18,000 crore further public offer (FPO), Vodafone Idea on Monday said it expects to roll out 5G services in select pockets in 6-9 months of the issue.

Its Chief Executive Akshaya Moondra said rollout of the 5G services is one of the objectives of raising the capital from the public and once the funding comes, it will start work on the rollout.

The 5G rollout will cover 40 per cent of the company's overall revenue base in the next 24-30 months, Moondra said, without sharing a specific target on when the rollout will happen.

A sum of Rs 5,720 crore has been allocated for the rollout, he said, adding that testing and vendor conversations have already begun.

However, he did not specify the locations where the rollout will happen.

It can be noted that both its rivals Bharti Airtel and Reliance Jio -- to whom it has ceded market share -- have been active on 5G for some months now.

Moondra said the company has not been able to roll out 5G services because of lack of funds.

The company has set a price band of Rs 10-11 per equity share for the issue that opens on Thursday.

The Vi share was trading 0.93 per cent up at Rs 13.08 apiece on the BSE at 13.35 hours.