Vodafone Idea Limited on 2021 Spectrum Auction

Vodafone Idea Limited, India's leading telecom service provider, participated in the just concluded 2021 spectrum auction conducted by the Department of Telecom (DoT), Govt. of India.

We congratulate the DoT for the successful completion of the spectrum auction which was conducted in an absolutely flawless and smooth manner. Vodafone Idea lauds the Government's efforts in taking Indian telecom sector from an era of spectrum scarcity to one of surplus spectrum. With sufficient spectrum availability and adequate number of market players, Indian telecom sector is well positioned to drive the Digital India agenda.

Vodafone Idea entered this auction holding the largest quantum of spectrum with a very small fraction, which was administratively allocated and used for GSM services, coming up for renewal. We have used this opportunity to optimize spectrum holding post-merger to create further efficiencies in few circles.

As per Ookla®*, the global leader in broadband testing and web-based network diagnostic applications, we remain the fastest 4G network in the country for two consecutive quarters. The spectrum we have acquired in the 5 circles will further help us to enhance our 4G coverage and capacity, enabling superior digital experience for our customers.

In the next few years, the industry readies to deploy 5G technology with India specific use cases. We are hopeful that large quantum of spectrum in globally harmonized bands, will be made available for all operators in the future as well as it would be at fair prices that allow operators to have ability to rapidly rollout networks.

Shares of Vodafone Idea Ltd was last trading in BSE at Rs.11.07 as compared to the previous close of Rs. 11.33. The total number of shares traded during the day was 51946782 in over 116190 trades.

The stock hit an intraday high of Rs. 11.48 and intraday low of 10.9. The net turnover during the day was Rs. 576457580.

Source : Equity Bulls

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