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Cash-strapped Vodafone Idea<\/a> (Vi) has dialled State Bank of India<\/a> (SBI<\/a>) for a Rs 15,000-16,000 crore loan to meet its immediate 4G capex needs, fund gear supply contracts for its pending 5G rollout and to clear some sizeable vendor dues, three people aware of the matter said.

The fundraising via debt - talks for which are ongoing for over a month now - though, is held up as the country's largest lender seeks clarity on the government's potential shareholding in Vi, as well as the telco's business scale-up plans.

\"The team is in talks with Vi, but it's at a nascent stage... some clarifications have been sought... on when the government will convert the telco's interest liability into equity and its business plans,\" a senior banker directly involved in discussions told ET. Another person aware of the talks said Vi's proposal would be placed before SBI<\/a>'s apex credit committee to finalise terms only after obtaining clarity on the loss-making telco's expansion plans.

Hanging Fire
<\/strong>
As of press time, ET's queries to SBI, Vi, Vodafone Group Plc and the Aditya Birla Group<\/a> were unanswered. Vi shares ended 2.23% higher, at Rs 8.25, on the BSE on Wednesday.

Vi had net debt of around Rs 2.2 lakh-crore in the second quarter. Early in September, the telco prepaid a Rs 2,700-crore short-term loan to SBI in a bid to boost lenders' confidence. The loss-making operator ended the September quarter with a gross cash balance of Rs 190 crore.

\"\"
<\/span><\/figcaption><\/figure>
In May, Vodafone Idea reiterated its September 2020 announcement that it plans to raise Rs 20,000 crore via a mix of debt and equity. This was in addition to the promoter equity infusion of under Rs 5,000 crore received before May.

However, continuing delay on the government's part to convert Vi's Rs 16,130 crore accrued interest on deferred adjusted gross revenue (AGR) related dues into equity has delayed the equity infusion by potential third-party investors. These investors also want clarity on government shareholding before committing funds, leaving the loss-making telco to arrange more debt to meet its immediate needs.

Analysts estimate the government shareholding to be around 33% after conversion, making it the single largest shareholder in the telco.

<\/p>
\"In<\/a><\/figure>

In talks with Jio, Airtel, and Vodafone Idea for 5G private network, radio equipment: Mavenir<\/a><\/h2>

\"Large-scale adoption has not happened which is true, and there are multiple reasons for that. The first being the earlier deployments that happened have been with NSA (non standalone) mode. So to bring in a new carrier and NSA means you need to interwork with an existing player. And up until now, the extra interface testing has not really happened in multiple accounts. Now we're going through that with the tier 1 account in the US. It's a tier 1 account in Europe where we have done initial validation,\" says Pankajakshan.<\/p><\/div>

Cash-strapped Vodafone Idea<\/a> (Vi) has dialled State Bank of India<\/a> (SBI<\/a>) for a Rs 15,000-16,000 crore loan to meet its immediate 4G capex needs, fund gear supply contracts for its pending 5G rollout and to clear some sizeable vendor dues, three people aware of the matter said.

The fundraising via debt - talks for which are ongoing for over a month now - though, is held up as the country's largest lender seeks clarity on the government's potential shareholding in Vi, as well as the telco's business scale-up plans.

\"The team is in talks with Vi, but it's at a nascent stage... some clarifications have been sought... on when the government will convert the telco's interest liability into equity and its business plans,\" a senior banker directly involved in discussions told ET. Another person aware of the talks said Vi's proposal would be placed before SBI<\/a>'s apex credit committee to finalise terms only after obtaining clarity on the loss-making telco's expansion plans.

Hanging Fire
<\/strong>
As of press time, ET's queries to SBI, Vi, Vodafone Group Plc and the Aditya Birla Group<\/a> were unanswered. Vi shares ended 2.23% higher, at Rs 8.25, on the BSE on Wednesday.

Vi had net debt of around Rs 2.2 lakh-crore in the second quarter. Early in September, the telco prepaid a Rs 2,700-crore short-term loan to SBI in a bid to boost lenders' confidence. The loss-making operator ended the September quarter with a gross cash balance of Rs 190 crore.

\"\"
<\/span><\/figcaption><\/figure>
In May, Vodafone Idea reiterated its September 2020 announcement that it plans to raise Rs 20,000 crore via a mix of debt and equity. This was in addition to the promoter equity infusion of under Rs 5,000 crore received before May.

However, continuing delay on the government's part to convert Vi's Rs 16,130 crore accrued interest on deferred adjusted gross revenue (AGR) related dues into equity has delayed the equity infusion by potential third-party investors. These investors also want clarity on government shareholding before committing funds, leaving the loss-making telco to arrange more debt to meet its immediate needs.

Analysts estimate the government shareholding to be around 33% after conversion, making it the single largest shareholder in the telco.

<\/p>
\"In<\/a><\/figure>

In talks with Jio, Airtel, and Vodafone Idea for 5G private network, radio equipment: Mavenir<\/a><\/h2>

\"Large-scale adoption has not happened which is true, and there are multiple reasons for that. The first being the earlier deployments that happened have been with NSA (non standalone) mode. So to bring in a new carrier and NSA means you need to interwork with an existing player. And up until now, the extra interface testing has not really happened in multiple accounts. Now we're going through that with the tier 1 account in the US. It's a tier 1 account in Europe where we have done initial validation,\" says Pankajakshan.<\/p><\/div>