Mumbai: Vodafone Idea (Vi) has secured the first Rs 6,400 crore tranche of funding for its planned Rs 45,000 crore network expansion over the next three years and is close to concluding discussions with an State Bank of India (SBI)-led consortium of public sector banks, demonstrating initial progress in its long-pending debt raise plans.
"This (financial) architecture is built on three cohorts,” chief executive Abhijit Kishore said in a post-earnings call on Tuesday. “First is a consortium of public sector banks led by SBI with six to seven participating banks. Second is Indian private banks and the third is external commercial borrowings (ECB) with foreign banks,” he explained.
