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Vodafone Idea raises 15B rupees via nonconvertible debentures

Vodafone Idea Ltd. has raised 15 billion Indian rupees through issuing 15,000 unsecured redeemable nonconvertible debentures, the telco said in a Sept. 3 filing to the Bombay Stock Exchange.

The debentures have a five-year maturity tenure and were offered at an interest rate of 10.90% per annum.

Vodafone Idea was formed out of a merger of Vodafone Group PLC arm Vodafone India with Idea Cellular Ltd., completed Aug. 31; its net debt stands at 1.092 trillion rupees.

The new combined entity brings together almost 408 million customers.

As of Sept. 3, US$1 was equivalent to 71.13 Indian rupees.