Vodafone Idea’s improved network quality may slow down subs growth for Jio, Airtel: S&P

NEW DELHI: India’s third-largest telecom operator Vodafone Idea (Vi), bolstered by the Rs 215 billion funding in recent months, is poised to improve its network quality which may slow down the subscriber growth for its top rivals Reliance Jio and Bharti Airtel, S&P Global said in a research note Thursday.

Vodafone Idea has accumulated most of the funds from a Rs 180 billion follow-on public offer (FPO) that the telco concluded in April 2024. The company is now looking to issue shares valued at Rs 24.6 billion to its equipment vendors Nokia and Ericsson to settle outstanding payments.