Idea Cellular plans to raise Rs 500 cr through NCDs

Idea Cellular plans to raise Rs 500 cr through NCDs

13/02/2017 13:02

Mobile operator Idea Cellular said that it plans to raise Rs 500 crore through issuance of non-convertible debentures on private placement basis.

“…the company is proposing to issue Unsecured Redeemable Non Convertible Debentures amounting to Rs 500 crore on private placement basis,” Idea Cellular said in a BSE filing.

The debentures, having a tenure of five years, will carry a coupon rate of 8.03 per cent per annum, it said.

Meanwhile, shares of the company were trading at 106.25 apiece, down 3.72 per cent from the previous close at 13:07 hours on BSE.

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