Shares of Vodafone Idea Ltd gained 8% on Wednesday, 19 March, after the company announced the launch of 5G services in Mumbai. 

In its regulatory filing, the company announced the launch of its 5G services in the city, leveraging its strong spectrum holdings and investment in advanced infrastructure.

For its 5G rollout, Vi has partnered with Nokia to integrate next-generation equipment and has implemented an AI-powered Self-Organizing Networks (SON) system to optimize network performance and enhance user experience.

The company plans to invest between Rs 50,000 crore and Rs 55,000 crore over the next three years to expand 4G coverage to 90% of India while deploying 5G in key regions.

Over the past year, Vi has secured around Rs 26,000 crore in equity funding, including India’s largest follow-on public offering (FPO) of Rs 18,000 crore and a promoter contribution of Rs 4,000 crore. These funds will support the company’s capital expenditure plans.

Additionally, Vi is exploring satellite-based connectivity solutions with companies like Starlink and OneWeb to provide network access in areas where traditional telecom infrastructure is difficult to establish. The company is in discussions with multiple satellite firms as part of its broader connectivity strategy, aligning with moves by competitors Bharti Airtel and Reliance Jio, who have also partnered with SpaceX to introduce Starlink’s services in India.

At 3:30 pm, the shares of Vodafone Idea closed 5.07% higher at Rs 7.46 on NSE.

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