According to a report by BofA Securities, Vodafone Idea Limited (Vi) will require around Rs 760 billion to strengthen its network and telecom infrastructure in order to narrow the gap with Bharti Airtel and Reliance Jio.
As per the report, the telco remains in the early stages of its 5G rollout in India, while Airtel and Jio have already achieved near nationwide deployment. The brokerage estimated that Vi will need this amount to support its network expansion and position itself as a strong third player in the market.
The report also noted that any large equity infusion could lead to significant dilution for existing shareholders.
