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Vodafone Idea in Talks with Banks for Rs.150 Billion Loan


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Telecom carrier Vodafone Idea is reportedly in discussions with lenders to secure loans worth 150 billion rupees ($1.80 billion) over the next two years. According to Bloomberg News, sources familiar with the matter have revealed that the company has approached state-run lenders, including State Bank of India (SBI), Bank of Baroda, Punjab National Bank, as well as some privately-held banks. However, the report did not disclose the names of the private lenders.

Potential Consortium of Lenders and Disbursement in Tranches

State Bank of India (SBI) is expected to lead a consortium of lenders, and if the discussions are successful, the funds could be disbursed in tranches. It is important to note that these discussions are ongoing, and the details may change. Reuters reached out to Vodafone Idea, SBI, Bank of Baroda, and Punjab National Bank for comment, but they did not respond immediately.

Vodafone Idea’s Plans to Raise Funds for 5G and 4G Expansion

In February, Vodafone Idea revealed its plans to raise over $5 billion in order to roll out 5G network services and expand its 4G coverage. The company is aiming to improve its financial situation and catch up with its competitors, Bharti Airtel and Reliance Industries’ telecom arm Reliance Jio.

Strong Investor Interest in Vodafone Idea’s Share Sale

Last month, Vodafone Idea conducted a follow-on share sale, which turned out to be India’s largest. The sale received bids 6.36 times the number of shares on offer, indicating strong investor interest in the company.

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