Vodafone Idea shares surged by 4% on March 19 following the announcement of its 5G service launch in Mumbai.
The company also revealed that it is in discussions with Elon Musk’s Starlink for a potential partnership in India.
In a notice to the stock market, Vodafone Idea mentioned that the 5G rollout will offer customers expanded network coverage and improved mobile experiences at competitive prices.
Vodafone Idea is offering unlimited 5G in plans starting from Rs 299.
The company stated that it is strengthening its network to meet the rising demand for high-bandwidth services such as video streaming, online gaming, and cloud access.
Vodafone Idea has teamed up with Nokia to expand its 5G services in Mumbai. The company plans to gradually roll out 5G across India.
However, it is important to note that Reliance Jio and Bharti Airtel have already completed their 5G rollouts, while Vodafone Idea is just beginning its services.
Motilal Oswal, a brokerage firm, reported last month that Vodafone Idea’s biggest challenge is stabilizing its subscriber loss.
TRAI data shows that the company’s user base decreased by 17 lakh to 20.7 crore in December 2024. It also lost 15 lakh users in November.
Vodafone Idea has raised Rs 26,000 crore in the past year, including Rs 18,000 crore through India’s largest Follow-On Public Offer (FPO).
The company’s promoters also contributed more than Rs 4,000 crore. Vodafone Idea plans to invest Rs 50,000 crore to Rs 55,000 crore over the next three years.
The company’s shares are up 4.1% at Rs 7.4, but the stock has fallen 63% from its 2024 high of Rs 19 and is trading below the FPO price of Rs 11.
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