Idea Cellular to become Vodafone Idea; plans to raise Rs 150 billion

The required approvals for the much-awaited merger have reached the last leg

Idea Cellular proposes to call the new entity born of the much-talked-about merger of Idea Cellular and Vodafone India Vodafone Idea. 

According to a regulatory filing, Idea Cellular has called an extraordinary general meeting on June 26 to consider proposals on a number of issues, including changing the name of the combined entity, touted to be the largest telecom operator of the country. It hopes to raise Rs 150 billion through non-convertible debentures. “…consent of the members be and is hearby accorded for change of name of the company from Idea Cellular Limited to Vodafone Idea Limited," a filing on the