The funding structure, which includes both equity and debt, have progressed well in the last couple of months, Moondra said during an earnings call with analysts post AprilJune quarter.
"Particularly in the last one month some of these discussions have started progressing to a level of due diligence or proposals being discussed with these investors," Moondra said.
"I think we are making good progress and we expect to conclude these discussions in the coming quarter," Moondra added.
Comments from Moondra came after the telecom operator received commitment from one of the promoter to provide direct or indirect financial support to the extent of ₹2,000 crore, for meeting its payment obligations.
"As far as debt funding is concerned we have been engaged with our consortium of banks for a long time. Generally their ask is that equity also needs to be tied up and we disclosed that promoters have already given us a support of ₹2,000 crore of equity and some external equity needs to be tied up, and with that the bank funding will also be tied up," Moondra added.
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