Vodafone Idea (Vi) plans to borrow Rs 23,000 crore in term loans and seeks Rs 10,000 crore in bank guarantees to bolster its market position against rivals Reliance Jio and Airtel. The funds will primarily support expanding 4G coverage and rolling out 5G. Vi has already secured equity capital and aims to invest Rs 50,000-55,000 crore over three years. The loan proposal has been submitted to an SBI-led consortium, contingent on a techno-economic viability report. Despite concerns over pending dues and competition, Vi’s recent credit rating upgrade reflects improving prospects, driving its stock to a three-month high on expectations of enhanced earnings.