Aircel has decided to raise $1.6 billion (Rs 6,400 crore) in short-term debt in a week and subsequently also come up with an initial public offer (IPO) in a year to fund its companies expansion plans.
Aircel, part of Maxis Communications Berhad, Malaysia, is India’s seventh largest GSM mobile service provider with a subscriber base of over 6.2 million (over 4 million in Chennai & Tamil Nadu alone) and the fastest growing mobile operator in the country.