FinanceET Techabout 1 hour ago
Vi Secures ₹35,000-Crore Loan Consortium
1 min read
Vodafone Idea is arranging a ₹35,000-crore, 10-year term loan from a consortium of eight to ten lenders to fund capital expenditure. State Bank of India has approved a 20% exposure, approximately ₹7,000 crore. The total required investment is ₹60,000 crore for service upgrades, with the balance from internal accruals. A key condition is that Kumar Mangalam Birla must remain chairman for the loan's tenure.
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