Idea Cellular to raise Rs 15 billion via bond sales

Idea Cellular is planning to raise up to Rs 10 billion by selling unsecured non-convertible debentures (NCDs). The company will sell five-year corporate bonds offering an interest rate of 7.77 per cent. The proceeds of the bond issue are likely to be used by the operator for expanding its 4G footprint. Idea is also expected to mop up another Rs 5 billion via the same route soon after.