Thursday, November 2, 2023

 Finally Done.. Great News For #idea


HDFC Bank, India's largest private sector lender, has extended a loan of Rs 2,000 crore to Vodafone Idea (Vi) to assist the beleaguered telco in addressing its pending license fees and fulfilling its 5G spectrum payment commitments.

The loan has a tenure of two years and the funds were disbursed in mid-September, just before the deadlines for some of the company's loan and statutory payment commitments, The Economic Times said in a report on November 2.

Vi has already paid more than Rs 350 crore for FY22 and FY23 in past licence fees and about Rs 1,700 crore toward spectrum usage charges (SUC). The company is also in talks with potential investors for equity funding.

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