Vodafone Idea is raising funds from a consortium of public sector banks led by State Bank of India, a group of Indian private sector lenders and foreign lenders through external commercial borrowings, CEO Abhijit Kishore said, as reported by ET Bureau.
The telecom operator has made “substantial progress” with lenders across all three funding channels and has already secured the first tranche of Rs 6,400 crore.
The funding includes Rs 1,183 crore raised through warrant proceeds, along with debt funding and non-funded facilities from ECBs and Indian private banks.
Kishore said the company is continuing to work with lenders across the three cohorts as it seeks to strengthen its funding position.