Loop Mobile to invest $75 mn in its Mumbai ops this fiscal

Loop Mobile today said it plans to invest around $75 million in its Mumbai operations and double its subscriber base by this fiscal-end.     

"We have an aggressive plan to invest around $50-75 million in Mumbai this fiscal. The investment would be to increase our network," the newly appointed Loop Mobile Chief Executive Officer Sandip Basu told reporters here. 

Basu has replaced Sanjeev Chachondia who had resigned as the CEO of the company last month.     

The company has 1,600 towers currently in Mumbai and plans to increase it further, he said.     

"Last year, we doubled our subscriber base to 2.4 million. This year also we will keep this in mind," Basu said. Loop Mobile was formerly known as BPL Mobile.

The company today launched 'epaid', which entitles subscribers to the  benefits of a post-paid and pre-paid connection bundled together.

The service has an introductory offer of a free monthly itemised usage e-statement and the convenience of on-line purchase of credits.

It has pre-activated CLIP, ISD, STD, call-conference and call-forwarding facility.

"We have gone a step further towards delivering superior subscriber service with epaid. We have targeted a more micro-segment of consumers like students and employees, who prefer a pre-paid connection and aspire for the top experience of a post-paid one," Basu said.

"It is a stepping stone in giving a better value proposition to our subscribers," he said.