Unitech Wireless has raised Rs 50 billion as debt from the State Bank of India to meet the funding requirements for its pan-Indian network rollout. The company is planning to raise additional loans amounting to several billion to meet its objective. The company, which plans to launch mobile phone services by the end of 2009, had raised Rs 12.5 billion in 2008 from a consortium of six banks.
It has already placed orders for services and equipment to meet its target and will be outsourcing all its infrastructure and back-end service needs to expedite network rollout.
