Vodafone Idea Seeks $1.8 Billion of Loans in Next Two Years
- Firm reached out to banks including State Bank of India
- The debt plan follows a $2.2 billion share sale last month
A Vodafone Idea Ltd. store in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Vodafone Idea Ltd. is in talks with lenders for loans totaling 150 billion rupees ($1.8 billion) in the next two years, people familiar said, as the billionaire Kumar Mangalam Birla-led wireless carrier seeks to turn around its unprofitable operations.
This would be the first move in a plan to raise 250 billion rupees overall in debt, with the proceeds helping to repay operational creditors, roll out a 5G network and bid for additional spectrum.