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Idea Cellular plans to raise Rs 10,000 crore debt on private placement basis

Idea Cellular is planning to raise Rs 10,000 crore debt on a private placement basis. The company will decide the same in its annual general meeting (AGM) scheduled to be held on June 30. In the AGM, the company will also decide on a waiver to recover the excess pay of around Rs 3 crore from its Managing Director Himanshu Kapania, which is more than the prescribed limits in view of loss in the last financial year.

Idea Cellular is an AV Birla group company and provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level.

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