Vodafone Idea subsidiary aims to secure $570 million through short-term debt, according to sources.
Debt Sale Plans: Vodafone Idea Telecom Infrastructure is in discussions to raise up to 50 billion rupees ($569.5 million) through a debt sale scheduled for September, focusing on issuing bonds with two and three-year tenors.
Use of Funds: The raised funds will be allocated for capital expenditures as the company aims to expand its operations.
5G Expansion Goals: Vodafone Idea plans to enhance its 5G services across key cities in 17 priority circles by September 2025, following a recent earnings call.
Financial Challenges: The company has faced difficulties in settling outstanding dues since a Supreme Court ruling in 2019, leading to government intervention that converted part of its spectrum dues into equity, increasing the government's stake to 48.99%.
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