Vodafone Idea nears SBI loan as banks seek stronger promoter guarantees
Vodafone Idea has inched toward securing its Rs 45,000-crore funding need, with State Bank of India agreeing to sanction its portion. The promoter guarantee is coming from a smaller entity viewed as a gesture rather than a full backstop, while private banks are seeking stronger guarantees from larger promoter group firms and additional LoCs. The funding supports a Rs 45,000-crore capex plan over three years; Vi has already raised Rs 6,400 crore in the first tranche.