Excitel is in talks with investors to raise Rs 2,000 millionin funding as it plans to expand fibre to the home (FTTH) deployment on its network and establish presence in 50 cities by December 2021.
The transaction is expected to be closed by October 2020.
As per Excitel, its strategy is to partner with local cable operators and local internet operators to get coverage in 75 per cent of the cities which other operators/telcos are unable to cover. According to Excitel, it will sell only FTTH by the end of 2020. It is planning to start converting legacy (copper) infrastructure to fibre starting next year and in 2021, complete the transition to completely fibre.
At present, Excitel operates in nine cities including Delhi-NCR, Hyderabad, Bengaluru, Vijayawada, Kanpur, Lucknow, Jaipur, Jhansi and Guntur.