Idea Cellular to raise Rs 2,000 crore via debt

Telecom operator Idea Cellular today said it will raise Rs 2,000 crore through issuance of non-convertible debentures.
"... The Company is proposing to issue Unsecured Redeemable Non-Convertible Debentures amounting to Rs 2,000 crore on private placement basis," Idea said in a BSE filing.
The NCDs are proposed to be listed on National Stock Exchange on January 27 on which it is offering 8.04 per cent annual interest.
The date of maturity for these NCDs will be January 27, 2022. This would be the fourth round of fund raising by Idea within a period of two months.
The company raised Rs 1,500 crore through NCDs on December 13, Rs 1,000 crore on January 4 and Rs 500 crore on January 17.

Shares of Idea Cellular closed at Rs 75.6 per unit, up by 3.21 per cent compared to previous close, at BSE today.