Vodafone Idea, the merged entity of Vodafone India and Idea Cellular, has raised Rs 15 billion by way of non-convertible debentures (NCDs) on a private placement basis. This is the first debt the company has raised post incorporation. The debentures issued offer an interest rate of 10.9 per cent per annum with a maturity period of five years. Earlier, Idea Cellular and Vodafone India had announced the completion of the
merger, which is valued at approximately Rs 1.6 trillion and has led to the formation of the largest telecom operator in the country. The merged entity, called Vodafone Idea Limited, has a subscriber base of over 408 million and a market share of over 35 per cent.