Vodafone Idea Ensures Lenders To Raise Rs 7 500 Crore By June 2021
Vodafone Idea (Vi) has been under heavy financial distress for a long period. However, the telecom giant has committed to its lenders that it will go ahead with the delayed fundraising amounting to nearly $1 billion (Rs 7,500 crore) by June 2021. The officials aware of the matter said that Vodafone Idea will not default on any upcoming payments. As reported by ET Telecom, one of the domestic lenders of Vodafone Idea, which is a private sector bank, has promised a bank guarantee to the telco of about Rs 1,420 crore by another year....