Vodafone Idea updates on 2022 spectrum auction

Vodafone Idea Limited, India's leading telecom service provider, participated in the just concluded 2022 spectrum auction conducted by the Department of Telecommunications(DoT), Govt. of India.

Firstly, we congratulate the Government of India for the successful completion of the spectrum auction, conducted in an absolutely flawless manner. We also appreciate TRAI and DoT's efforts to ensure sufficient 5G spectrum availability across frequencies to provide multiple options to the operators to acquire spectrum in line with their business priorities. We believe this auction will catalyse digital economy growth and usher 5G in India. We remain committed to realise the Digital India dream of the nation.

We actively participated in the spectrum auction to strengthen our pan-India 4G footprint and embark on our 5G roll-out journey in the country in line with our long term vision. We have successfully acquired mid band 5G spectrum (3300 MHz band) in our 17 priority circles and mmWave 5G spectrum (26 GHz band) in 16 circles, which will enable us to offer a superior 5G experience to our customers as well as strengthen our enterprise offerings and provide new opportunities for business growth in the emerging 5G era. We will continue to collaborate with enterprise customers and partners in prioritising and developing 5G use cases for real-world deployments. The additional 4G spectrum acquisition in 3 circles of Andhra Pradesh, Karnataka and Punjab will further improve the customer experience; an area where we have been consistently leading the league tables, as per various third party reports, over last several quarters. We believe that the above spectrum acquisition will enable us to strengthen our position in our key markets and it aligns well with our long term strategic intent. With this, we now have a solid portfolio of spectrum across all bands in all our priority circles. The circle-wise spectrum holding post this spectrum auction is annexed hereto.

We also have the advantage of leveraging the global experience of Vodafone Group which has proven expertise in deploying 5G in many markets. We will continue to invest in our future ready network to upgrade it for roll out of 5G services to our customers in future.

Shares of Vodafone Idea Limited was last trading in BSE at Rs. 9.12 as compared to the previous close of Rs. 8.77. The total number of shares traded during the day was 39698003 in over 76661 trades.

The stock hit an intraday high of Rs. 9.20 and intraday low of 8.75. The net turnover during the day was Rs. 358835733.00.

Source : Equity Bulls

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VodafoneIdea INE669E01016 SpectrumAuction DoT