New Delhi: Mobile operator Idea Cellular, currently in merger talks with Vodafone India, today said it plans to raise Rs500 crore through non convertible debentures on private placement basis. “In terms of provisions of the Securities and Exchange Board of India (Sebi) Regulations 2015, we wish to inform you that the company is proposing to issue Unsecured Redeemable Non Convertible Debentures (NCDs) amounting to Rs 500 crore on private placement basis,” Idea Cellular said in a BSE filing. While Bharti Airtel is currently the biggest telecom operator in India with 263.35 million mobile subscribers, Vodafone has 202.79 million users and Idea Cellular 187.68 million users. Also read| Vodafone confirms merger talks with Idea, could create India’s biggest telecom firmConfirming merger talks were on, Idea Cellular earlier today said it constantly evaluates various opportunities to enhance stakeholders’ value. Further there is no certainty that the discussion with them will result in any agreement,” Idea had said.

Source: Mint January 30, 2017 12:34 UTC