Telecom major Vodafone Idea Limited Monday raised Rs 1,500 crore fund through non-convertible debentures on private placement basis — first debt after its incorporation.
“The Securities Allotment Committee have at their meeting held today i.e. on September 3, 2018, allotted 15,000 unsecured redeemable non-convertible debentures aggregating to Rs 1,500 crore on private placement basis,” Vodafone Idea said in a regulatory filing.
The NCDs have maturity period of 5 years and have been offered at interest rate of 10.9 per cent per annum.
Idea Cellular Ltd and Vodafone Plc on last Friday announced completion of the USD 23.2 billion (approximately Rs 1.6 lakh crore) merger of their India operations to create the country’s largest telecom operator to take on competition from RelianceJio.
