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Idea Looking to Raise INR 10 Bn by Selling Corporate Bonds

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Idea Cellular is looking to raise INR 10 bn by selling its corporate bonds by next week, the money raised could be used for 4G expansion. “The company is proposing to issue Unsecured Redeemable Non—Convertible Debentures (NCDs) amounting to Rs. 1,000 crore on private placement basis,” Idea Cellular said in a filing to the BSE.

“The deemed date of allotment is January 4, 2017 and the date of maturity is set as January 4, 2022. The coupon/interest offered is 7.77 per cent per annum,” it said. Read more

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Sweekar S

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