Vodafone Idea Limited (Vi) has reportedly secured a loan worth Rs 20 billion from HDFC Bank. The funding will likely help the operator to meet its past overdue licence fee and 5G spectrum payment commitments amid the possibility of equity infusion in the company by December 2023. The loan tenure is two years.
According to industry sources, the funds were disbursed in mid-September 2023, just ahead of the repayment deadlines for some accumulated loans and statutory payment commitments.
Further, HDFC Bank has informed Vi’s major lenders to ensure that in case of any issues with the company’s payments in the future, the repayment to this loan account is not impacted.