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Idea to raise USD300m for 4G network expansion

25 Jan 2017

Idea Cellular, India’s third-largest mobile provider by subscribers, plans to raise INR20 billion (USD293.2 million) via non-convertible debentures (NCDs) to fund 4G network expansion as it looks to tackle aggressive newcomer Reliance Jio Infocomm (Jio). In a notification to the National and Bombay stock exchanges (NSE and BSE, respectively), Idea stated that it would offer 8.04% for a tenure of five years on the NCDs, which will go on offer on 27 January 2017.

India, Reliance Jio Infocomm (Jio), Vi (Vodafone Idea Limited, VIL)

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