Fundraise allowed VIL's capex cycle, places firm on secure footing: Birla

The fundraise by Vodafone Idea enabled the telco to kick-start its capex cycle again, and that alongside other key initiatives will place it on a "more secure footing" to ensure that the company remains dynamic and competitive, Aditya Birla Group Chairman Kumar Mangalam Birla said on Tuesday.

Speaking at the inauguration of IMC and ITUWTSA 2024, Birla exuded confidence that with continued support of the government, Vodafone Idea Ltd (VIL) will do its part in realising India's digital destiny.

"With the continued support of the government, I am confident that we will do our part to realise the Prime Minister's digital India destiny. I am a firm believer in the transformative power of India's telecom sector and I see it as a bridge to a more connected, empowered and prosperous India," he said.

VIL's fundraise has enabled the company to kick-start its capex cycle, he noted.

"Vodafone Idea has already announced the next phase of CapEx worth USD 3.6 billion with three global partners, .