The proposal covers about ₹35,000 crore, including ₹25,000 crore in funded facilities and ₹10,000 crore in non-funded facilities, the sources said.
SBI is expected to lead the consortium, with most large lenders likely to participate. However, each lender’s board will have to approve its individual share of the proposed funding before the consortium can give final approval. Lenders are also seeking repayment guarantees in the event of a default, the sources said.
Even after the formal approvals, it could take some time for the funds to be disbursed.
Vodafone Idea plans to use part of the proposed funding to strengthen its network and improve its competitive position, according to the proposal.
The company has been seeking fresh debt to shore up its finances. CNBC-TV18 reported in May that Vodafone Idea was in talks with lenders and that SBI was likely to lead the consortium.
A crucial year for Vodafone Idea
The funding push comes as Vodafone Idea enters what Chairman Kumar Mangalam Birla has called a “year of execution and delivery”.
At the company’s annual general meeting in August, Birla said Vodafone Idea was focused on accelerating network investments and pursuing sustainable growth, supported by regulatory relief, fresh capital commitments and improving operating trends.The company has received significant regulatory relief this year.
In April, the Department of Telecommunications finalised Vodafone Idea’s adjusted gross revenue liability at ₹64,046 crore as of December 31, 2025, down sharply from the earlier frozen estimate of ₹87,695 crore.
Vodafone Idea also secured relief in a separate tax dispute this week after the Supreme Court dismissed the Centre’s plea seeking to revive a ₹363 crore GST demand related to the sale of tower assets to ATC Telecom.
The developments have improved sentiment towards the telecom operator. Vodafone Idea shares have gained almost 40% this year, giving the company a market capitalisation of about ₹1.6 lakh crore.
(Edited by : Sheersh Kapoor)
