Vodafone Idea to borrow Rs 23,000 crore and seek Rs 10,000 crore in bank guarantees to enhance 4G and initiate 5G rollouts, boosting its telecom infrastructure.
Vi's proposal was submitted to an SBI-led banking consortium, which will now assess the techno-economic viability of the project.
A top consultancy firm will conduct a TEV study to evaluate Vi’s creditworthiness before banks decide on the loan sanction.
Vi recently secured Rs 24,000 crore in equity capital, satisfying a key lender demand for fresh loan extensions.
The Rs 55,000-crore capex spending is vital for Vi’s survival and its ability to compete with Reliance Jio and Bharti Airtel.