Idea to Raise 1,000 cr Via Cor­po­rate Bonds

The Economic Times - - Companies - Our Bureau.

Idea Cel­lu­lar, which is in pre­lim­i­nary talks for an all-share merger with Voda­fone In­dia, plans to raise .₹ 1,000 crore by sell­ing cor­po­rate bonds, the lat­est in a se­ries of fund-rais­ing ini­tia­tives to build a war chest to ward off com­pe­ti­tion from Mukesh Am­bani-owned Re­liance Jio In­fo­comm, re­ports

The bonds will of­fer 8.12% with a seven-year ten­ure and are pro­posed to be listed on the Na­tional Stock Ex­change, the tele­com com­pany said in a stock ex­change no­ti­fi­ca­tion. They will be deemed al­lot­ted on Fe­bru­ary 8. Idea Cel­lu­lar has been us­ing the cor­po­rate bond route to raise funds, which ex­perts said could be cheaper than a term loan.

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