Vodafone seeks waiver of Rs 24K cr bank guarantee

New Delhi, July 11 Debt-ridden Vodafone Idea has reached out to the Department of Telecom to seek waiver on a financial bank guarantee worth Rs 24,747 crore for spectrum payment due in September 2025, according to sources. Vodafone Idea (VIL)...

PTI

Updated At : 01:24 PM Jul 12, 2024 IST

New Delhi, July 11

Debt-ridden Vodafone Idea has reached out to the Department of Telecom to seek waiver on a financial bank guarantee worth Rs 24,747 crore for spectrum payment due in September 2025, according to sources.

Vodafone Idea (VIL) needs to securitize the annual instalment one year before the due date of the payment.

“Vodafone Idea has reached out to DoT seeking waiver for financial bank guarantee (FBG) worth Rs 24,747 crore which it has to pay in September 2025,” a source said.