Vodafone Idea seeks lenders’ NOC to monetise fibre for ₹7,000-crore capex push

MUMBAI: Vodafone Idea (Vi) has sought a no-objection certificate (NOC) from lenders led by State Bank of India (SBI) to pledge its fibre optic network as it looks to raise nearly ₹7,000 crore from private credit or non-banking sources in a fresh bid to fund capital expenditure.

An NOC from banks is essential to raise debt against dedicated security. A go-ahead from lenders is the first step for the debt-laden telecom operator to secure fresh funding. However, this will not give new lenders priority over existing bank debt, people aware of the matter said.