The Vodafone Group pumped in Rs 47,700 crore in its Indian arm in the first first two quarters of this financial year, which began in April 2016, reported IANS. Vodafone India will use the funds to expand its network, upgrade its technology and spectrum.

MD and CEO of Vodafone India, Sunil Sood, said, "We have been given the go-ahead for an IPO and we are preparing for it," according to Hindu Businessl Line. He said the company was deploying “a portfolio of technologies - 2G, 3G, 4G and Internet of Things - to cater to the myriad connectivity needs of retail and enterprise customers across the country”. Sood said the telecom major has also managed to increase their revenue market share by 0.6% in the first quarter of the financial year.