Vodafone Idea shares surge 7%: Is SBI-led debt deal finally nearing closure?

Vodafone Idea shares jumped 7.11% to Rs 15.07 on Tuesday, after reports that the telecom operator is nearing a larger debt package from a consortium of public-sector banks led by State Bank of India (SBI).

SBI is reportedly willing to sanction its portion of the proposed loan once the other lenders approve their respective commitments, as reported by Business Standard.