As per industry sources, Vodafone Idea (Vi) is in talks with State Bank of India (SBI) for issuance of fresh loans.
To this end, SBI has asked Vi to present a detailed plan on their financial viability including equity infusion from the largest shareholders, cash conservation plans, tariff outlook and a roadmap to return to profits.
The bank loan, if materialised, could pave the way for other banks to offer credit and boost survival chances of Vi.
Vi’s total debt was Rs 1.9 trillion ($26 billion) as of June, 2021, including Rs 1.68 trillion owed to the government and Rs 234 billion to lenders.
