Vodafone Idea raises ₹3,300cr in NCDs, less than eight weeks after SC breather
Vodafone Idea, India’s third-largest telco by customers, has raised ₹3,300 crore through secured non-convertible debentures, or NCDs — less than eight weeks after a fresh lease of life was thrown at the financially-stressed company by the Supreme Court. The NCDs are unlisted and unrated, the company said in a statement.
The telco is just coming out of a tough period after pending dues to the central government mounted to ₹2 trillion and the company risked going into bankruptcy. The dues are under review after a late October Supreme Court order.
