Lenders a worried lot, look to recast Vodafone Idea exposure

Mumbai: Vodafone Idea’s (Vi) lenders are planning to approach the finance ministry seeking protection against the big blow they will face if the telco is not given some kind of relief against statutory dues, failing which it may collapse.

According to banking officials, public-sector banks that are heavily exposed to the company are particularly worried. Vi’s lenders are lining up meetings in the coming weeks with the leadership team of India’s only lossmaking private telco, seeking clarity over its planned Rs25,000-crore fund raising, without which sustaining the operations would be doubtful beyond a point, they said