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Idea Cellular to raise Rs 500 crore via NCDs

13 Feb 2017 Evaluate

Idea Cellular has decided to raise Rs 500 crore through issuance of unsecured redeemable non-convertible debentures (NCDs) on private placement basis. The debentures, having tenure of five years, will carry a coupon rate of 8.03% per annum. The date of maturity for these NCDs will be February 14, 2022.

Idea Cellular is an Aditya Birla Group Company, India's first truly multinational corporation. Idea is a pan-India integrated GSM operator offering 2G and 3G services, and has its own NLD and ILD operations, and ISP license.

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