Now, Vi in talks with several banks for loans totalling Rs 15,000 crore

The telco taps State Bank of India, Bank of Baroda and Punjab National Bank, among others, in its attempt to raise debt, soon after pulling off a Rs 18,000 crore follow-on public offer

Vodafone Idea, which recently concluded its Rs 18,000 crore follow-on public offer, is in talks with several lenders for loans totalling Rs 15,000 crore. Bloomberg reported that the State Bank of India, Bank of Baroda and Punjab National Bank are among those it has had discussions with.

In February, the telecom giant had announced that it plans to raise Rs 45,000 crore through a mix of debt and equity. Of this, it has earmarked raising Rs 25,000 crore via debt. The money, from the debt and FPO, will be used to meet debt obligations, improve its network and hopefully put …

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Diti Pujara

Diti is a copy editor at The Morning Context. She joins us from Deccan Herald where she oversaw the daily news coverage in the digital vertical as a chief sub-editor. She also managed social media and contributed to data stories and film analysis. Before DH, she was with Reuters as an online producer.

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diti@mailtmc.com