Vi eyes non-bank funding as lenders delay ₹25k-cr loans

The telco plans ₹50,000-55,000 cr in capex over three years for 4G expansion, 5G rollout

- Jatin Grover

Vodafone Idea (Vi) has begun exploring non-banking sources of funding to maintain the continuity of its crucial capital expenditure (capex) cycle, its outgoing chief executive officer (CEO) Akshaya Moondra said on Monday, as the debt-laden telecom operator's bid to raise ₹25,000 crore from banks faces delays.

Banks are awaiting clarity on potential relief on the firm's pending adjusted gross revenue (AGR) dues to the government, before extending loans to it. "We are looking at non-banking sources of funding. Not the full amount of ₹25,000 crore that we have talked about, but a lesser amount, so that we can continue with the capex cycle," Moondra said in his last call with analysts as CEO. Moondra added that talks on bank funding are progressing, but it might take time and therefore the company is looking at other sources, which could be available in a shorter timeframe.