Idea Cellular seeks approval for fund raising

Our Bureau | | Updated on: Jan 22, 2018

Idea Cellular is seeking shareholders’ approval to raise upto ₹10,000 crore through non-convertible debentures , on a private placement basis, in one or more tranches.

The Aditya Birla Group company intends to raise the amount in the next one year from the date of approval, which is the company’s 20th Annual General Meeting (AGM). The operator has also sought shareholders’ approval for the re-appointment of Himanshu Kapania as Managing Director for another five years from April 1, 2016, Idea said in the AGM notice.

The company will also seek approval to transact ordinary business, such as declaring of dividend for FY 2015, and to appoint directors.

Published on September 04, 2015
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