Fundraise Allowed Vodafone-Idea to Start Capex Cycle, Places Telco on Secure Footing: Kumar Mangalam Birla
Kumar Mangalam Birla was speaking at the inauguration of IMC and ITUWTSA 2024.
Photo Credit: Facebook/ Aditya Birla Group
Birla said Vodafone-Idea is working to address spam and fraud at the very core
Highlights
- Vodafone-Idea sold shares to institutional investors in 2024
- The telco is exploring ways to keep its operations dynamic, competitive
- The teclo is working with India to curb the menace of spam calls
The fundraise by Vodafone-Idea enabled the telco to kick-start its capex cycle again, and that alongside other key initiatives will place it on a “more secure footing” to ensure that the company remains dynamic and competitive, Aditya Birla Group Chairman Kumar Mangalam Birla said on Tuesday. Speaking at the inauguration of IMC and ITUWTSA 2024, Birla exuded confidence that with continued support of the government, Vodafone-Idea Ltd (VIL) will do its part in realising India’s digital destiny.
"With the continued support of the government, I am confident that we will do our part to realise the Prime Minister's digital India destiny. I am a firm believer in the transformative power of India's telecom sector and I see it as a bridge to a more connected, empowered and prosperous India," he said.
VIL’s fundraise has enabled the company to kick-start its capex cycle, he noted.
"Vodafone-Idea has already announced the next phase of CapEx worth $3.6 billion (roughly Rs. 30,262 crore) with three global partners, Nokia, Ericsson and Samsung. These are all key steps that place VIL on a more secure footing and ensure that the company remains dynamic and competitive," he said.
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He said one of the most pressing issues being addressed by the government, regulator and industry in the past year is spam control and fraud protection.
"As networks have grown, we have a potential risk to the public, especially from phishing schemes, fraudulent calls and spam messages. These undermine public confidence in communication systems and also put people's personal and financial security at risk," he said.
Birla said that VIL, in collaboration with the government and regulatory bodies, is making significant strides in combating this menace.
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"Vodafone-Idea is committed to bringing new and innovative solutions that will fundamentally address spam and fraud at the very core. Public awareness campaigns too are helping to educate users about how to identify and avoid spams," he said.