Vodafone Idea's network investment hinges on securing additional funding, says Fitch

Vodafone Idea plans to increase its network investment to stay competitive with Reliance Jio and Bharti Airtel. However, its ability to do so will depend on raising additional funds, according to Fitch Ratings. Jio and Airtel completed their nationwide 5G rollouts in early 2024 and now offer commercial 5G services. Vodafone Idea recently secured Rs 24,000 crore in equity funding to enhance its 4G coverage and launch 5G services. Fitch predicts that while Jio and Airtel's capital expenditure as a percentage of revenue will decline, they will still see growth in earnings due to increased data consumption. The average monthly data usage in India rose to 21.3GB as of June 2024.