Idea Cellular to raise Rs 10 billion through corporate bonds

Idea Cellular is planning to raise Rs 10 billion by issuing corporate bonds. The bonds will offer an interest rate of 8.12 per cent with a tenor of seven years and are proposed to be listed on the National Stock Exchange. Idea will use the proceeds for expanding its 4G network. Earlier, in January 2017, it had also raised Rs 40 billion by issuing corporate bonds.