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Idea Cellular to raise Rs 500 crore via non-convertible debentures

Telecom operator Idea Cellular on Friday announced its plans to raise Rs. 500 crore through issuance of non-convertible debentures.

The telecom company is proposing to issue unsecured redeemable non-convertible debentures amounting to Rs 500 crore on private placement basis.

Idea in a regulatory filing today announced its plan is to issue NCDs on January 17 on National Stock Exchange on which it is offering 7.77 percent annual interest.

“The date of maturity for these NCDs will be January 17, 2022. This would be the third fund raising round by Idea within a period of two months. Idea raised Rs. 1,500 crore on December 13 and Rs. 1,000 crore on January 4 through issue of debentures on private placement,” added the regulatory filing.