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Banking sources said Indian banks continue to have sizeable exposure to Vodafone Idea Ltd (VI) even as lenders weigh the possibility of extending fresh funding to the telecom operator.
State Bank of India remains the largest lender to Vodafone Idea, with a combined fund-based and non-fund-based exposure of ₹6,279.80 crore, according to the sources. Punjab National Bank follows with an exposure of ₹1,486.50 crore, while Axis Bank has an exposure of ₹1,002.66 crore.
Among other lenders, IndusInd Bank’s exposure stands at ₹731 crore and Canara Bank’s at ₹478.85 crore. IDBI Bank has an exposure of ₹347 crore, while ICICI Bank’s exposure is estimated at ₹249 crore. Bank of Baroda has an exposure of ₹227 crore, the sources added.
The exposure data comes at a time when banks are evaluating a fresh line of credit for Vodafone Idea. Banking sources said the process of considering new loans may begin soon, but proposals will be placed before the respective bank boards only after the Department of Telecommunications (DoT) committee gives its final decision.
Vodafone Idea has been in talks with an SBI-led consortium of lenders for a fresh bank loan of around ₹25,000 crore. Sources said recent relief on adjusted gross revenue (AGR) has provided some comfort to lenders, though banks are awaiting regulatory clarity before moving ahead.
According to the sources, the final decision of the DoT committee is expected to be a key trigger for any formal board-level approvals related to fresh lending to the telecom operator.
State Bank of India remains the largest lender to Vodafone Idea, with a combined fund-based and non-fund-based exposure of ₹6,279.80 crore, according to the sources. Punjab National Bank follows with an exposure of ₹1,486.50 crore, while Axis Bank has an exposure of ₹1,002.66 crore.
Among other lenders, IndusInd Bank’s exposure stands at ₹731 crore and Canara Bank’s at ₹478.85 crore. IDBI Bank has an exposure of ₹347 crore, while ICICI Bank’s exposure is estimated at ₹249 crore. Bank of Baroda has an exposure of ₹227 crore, the sources added.
The exposure data comes at a time when banks are evaluating a fresh line of credit for Vodafone Idea. Banking sources said the process of considering new loans may begin soon, but proposals will be placed before the respective bank boards only after the Department of Telecommunications (DoT) committee gives its final decision.
Vodafone Idea has been in talks with an SBI-led consortium of lenders for a fresh bank loan of around ₹25,000 crore. Sources said recent relief on adjusted gross revenue (AGR) has provided some comfort to lenders, though banks are awaiting regulatory clarity before moving ahead.
According to the sources, the final decision of the DoT committee is expected to be a key trigger for any formal board-level approvals related to fresh lending to the telecom operator.
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