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Idea Cellular rings loud on plan of raising Rs 1000 crore via NCDs

04 Jan 2017 Evaluate

Idea Cellular is currently trading at Rs. 74.00, up by 0.55 points or 0.75% from its previous closing of Rs. 73.45 on the BSE.

The scrip opened at Rs. 72.30 and has touched a high and low of Rs. 74.10 and Rs. 72.30 respectively. So far 173970 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 143.00 on 04-Jan-2016 and a 52 week low of Rs. 66.00 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 75.55 and Rs. 70.15 respectively. The current market cap of the company is Rs. 26454.41 crore.

The promoters holding in the company stood at 42.23%, while institutions and non-institutions held 31.72% and 26.05% respectively.

Idea Cellular, one of the largest Indian telecom operators, has decided to raise Rs 1000 crore through issuance of unsecured redeemable Non-Convertible Debentures (NCDs) on private placement basis. Tenure of these bonds will be 5 years and will carry a coupon rate of 7.77%.

Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.

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