Tuesday, 7 February 2017

Idea Cellular to raise Rs 1,000 cr via debentures

Ripples Advisory Private Limited, Indore @9303093093

Mobile operator Idea Cellular, currently in merger talks with Vodafone India, today said it plans to raise Rs 1,000 crore through issuance of non-convertible debentures on private placement basis. "The company is proposing to issue Secured Redeemable Non Convertible Debentures amounting to Rs 1,000 crore on private placement basis," Idea Cellular said in a BSE filing. 

The debentures, having a tenure of seven years, will carry a coupon rate of 8.12 per cent per annum. The debentures are secured against movable fixed assets excluding spectrum/telecom licences, passive telecom infrastructure and employee assets up to Rs 250 crore.

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