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.
Vodafone Idea secures Rs 6,400 crore in first funding tranche from SBI-led banks after AGR relief
The telecom operator Vodafone Idea is in the process of raising capital from a mix of public sector and private lenders, showcasing significant advancement in its funding strategy. They have successfully closed the initial tranche amounting to Rs 6,400 crore, factoring in warrant proceeds and various debt facilities. The company remains engaged with lenders to fortify its overall financial health.
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