Vodafone Idea, the leading Indian telecom service provider, is set to raise funds from a consortium of public sector banks led by State Bank of India.

It also includes Indian private sector lenders and foreign lenders through external commercial borrowings, CEO Abhijit Kishore said, as reported by the Economic Times.

The funding includes Rs 1,183 crore raised through warrant proceeds, along with debt funding and non-funded facilities from ECBs and Indian private banks, the report said.

Vodafone Idea CEO said the company is continuing to work with lenders across the three cohorts as it seeks to strengthen its funding position.

The company has made substantial progress with lenders across all three funding channels and has already secured the first tranche of Rs 6,400 crore.

Share prices of Vodafone Idea gained 3 per cent in intraday deals following narrower quarterly losses. Vodafone Idea share price gained 3 per cent to hit Rs 13.30 against the last closing price of Rs 12.91 apiece on the BSE.

During the first quarter of the financial year 2027 (FY27), Vodafone Idea posted a narrower loss of Rs 3,754 crore compared with Rs 6,608 crore in the same quarter of the previous financial year.

The revenue from operations grew about 6 per cent year-on-year (Y-o-Y) to Rs 11,689 crore from Rs 11,023 crore.