Vodafone Idea gets lenders in-principle approval for ₹14,000 crore

Vodafone Idea has received in-principle approval for ₹14,000 crore from a consortium of banks led by the State Bank of India. Sources in the know told businessline that a consortium of various PSU banks and two major private sector banks has given in-principle approval of these funds.

Earlier in the year, Vodafone Idea told its shareholders that it will be raising ₹25,000 crore of additional funds from lenders. Vodafone has also raised ₹18,000 crore in a successful follow on public offer (FPO) that took place in April.