IDEA Cellular, one of the leading telecom operators in the country, has decided to raise Rs 500 crore via non-convertible debentures (NCDs). This would be the third fund raising round by Idea within a period of two months. The company is issuing NCDs on January 17 on National Stock Exchange on which it will offer 7.77% annual interest. The date of maturity for these NCDs will be January 17, 2022.
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.
