Vodafone Idea Ltd. plans to secure loans totaling 150 billion rupees ($1.8 billion) from lenders over the next two years. This is part of a larger strategy to raise 250 billion rupees in debt to repay creditors, roll out 5G, and bid for additional spectrum, following a recent $2.2 billion share sale.
Earlier this year, Vodafone Idea said it was planning to raise 250 billion rupees in debt as it seeks to reclaim some of its lost subscribers in India’s wireless market, which is dominated by Asia’s richest billionaire Mukesh Ambani and his Reliance Jio Infocomm Ltd.
If added, Vodafone Idea shares may attract $213 million inflows, followed by Oberoi Realty, Zydus Lifesciences and Prestige Estates, which may see $136-137 million inflows.