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Idea seeks shareholders approval to raise up to Rs 10,000 crore

The Idea cellular seeks shareholders approval for the purpose of raising up to Rs 10,000 crore through issue of non-convertible securities on a private placement basis in one or more tranches.

The company seeks shareholders consent at its annual general meeting to be held on September 28.

Idea said in a notice on the BSE, “Consent of the members be and is hereby accorded…to borrow from time to time, by issuance of non-convertible securities, including but not limited to non-convertible debentures (NCDs), secured or unsecured, in one or more series/tranches aggregating up to an amount not exceeding Rs 10,000 crore on a private placement basis, during a period of one year from the conclusion of the 20th Annual General Meeting.”

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