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