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Vodafone Idea approaches banks for Rs 7,000-crore emergency loan: Report

The matter relating to loans and raising funds has been in discussion for a while as lenders have sought clarity on the government's potential shareholding in Vi, as well as the telco's business scale-up plans.

January 06, 2023 / 09:13 AM IST
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Beleaguered telecom operator Vodafone Idea has approached a host of lenders to raise loans worth over Rs 7,000 crore, The Economic Times reported on January 6. Most part of it would be used to clear a portion of its dues to Indus Towers, the report said, citing three people aware of the matter.

A senior bank official told ET that Vi did approach them for a loan, but it is a logjam. The lender has not committed anything to the telco.

Reportedly, an official at another lender said Vi has asked them to factor in Rs 15,000-crore bank guarantees and grant fresh loans.

Moneycontrol could not independently verify the report.