Idea Cellular raises Rs 30 billion (India)
November 15, 2007
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Idea Cellular has taken a Rs 30 billion loan from a consortium of banks and financial institutions led by IDBI. This is one of the largest financing deals for the company. To comply with the terms of the loan, Idea's board of directors has approved an increase of Rs 5 billion in the company's authorised equity share capital. Earlier this year, Idea had raised Rs 25 billion from an initial public offering (IPO).
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