Idea Cellular rises on shareholders nod to raise up to Rs 10,000cr

The shareholders have approved raising up to Rs 10,000cr via NCDs

Shares of Idea Cellular were up over 5% at Rs 147 on the Bombay Stock Exchange after the company announced that its shareholders have approved all the items of business contained in the notice of the AGM which includes issue of non-convertible securities on private placement basis.

Earlier, the company in a release of the Notice of Annual General Meeting under Special Business said it would seek consent of the shareholders to raise up to Rs 10,000 crore through issue of Non-Convertible Securities in one or more tranches.

The stock opened at Rs 140 and touched a high of Rs 147. At 1:05PM, over 5.1 million shares were traded on both the stock exchanges.