Idea Cellular to raise Rs 500 cr via NCDs

Idea raised Rs 1,500 cr on Dec 13 and Rs 1,000 cr on Jan 4 through issue of debentures

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

"...The company is proposing to issue unsecured redeemable non-convertible debentures amounting to Rs 500 crore on private placement basis," Idea said in a regulatory filing today.

The plan is to issue NCDs on January 17 on National Stock Exchange on which it is offering 7.77 per cent 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.

Shares of Idea ended 3.22 per cent down at Rs 72.2 apiece on BSE.