Voda Idea to seek shareholders' nod to raise borrowing limit to Rs 1 lakh cr
The company already has an MSA with Indus Towers. VIL estimates the transaction cost of 10-year master service agreement with Indus Towers is likely to be more than 10 per cent of its annual consolidated turnover, at around Rs 10,000 crore per annum from the current financial year onward. Hence, it will seek the shareholders' approval to go ahead with the agreement as required under existing regulations.
Vodafone Idea on Monday said it will seek shareholders' approval to raise borrowing limit to Rs 1 lakh crore, at the annual general meeting (AGM) scheduled to be held on September 30. Photo: Reuters