Vodafone infuses Rs 47,700 crore in India unit this fiscal

MUMBAI: Vodafone Group Plc. has infused Rs 47,700 crore ($7.12 billion) through equity into its India unit in the first half of the fiscal year, as India’s No. 2 telco gets ready for the upcoming spectrum auctions amid increased competition with the entry of Reliance Jio Infocomm.

The equity infusion money has come in and the company’s debt to equity ratio is now half, Vodafone India Chief Executive Sunil Sood told reporters at a news conference Thursday.

Speaking about increased competition, Sood said the carrier’s core differentiation is customer service, and pointed out that it had gained 0.6 percentage point in market share in the first half of this financial year ended September 30.