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Idea Cellular gains on acquiring 349.2 Mhz spectrum for Rs 12,798 crore

07 Oct 2016 Evaluate

Idea Cellular is currently trading at Rs. 79.95, up by 0.05 points or 0.06% from its previous closing of Rs. 79.90 on the BSE.

The scrip opened at Rs. 80.10 and has touched a high and low of Rs. 80.55 and Rs. 79.65 respectively. So far 87,001 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 159.95 on 08-Oct-2015 and a 52 week low of Rs. 78.05 on 30-Sep-2016.

Last one week high and low of the scrip stood at Rs. 82.50 and Rs. 78.90 respectively. The current market cap of the company is Rs. 28,754.00 crore.

The promoters holding in the company stood at 42.23%, while Institutions and Non-Institutions held 32.14% and 25.63% respectively.

Idea Cellular has successfully completed its Pan-India Mobile Broadband footprint and significantly boosted its capacity spectrum portfolio in the latest spectrum auction conducted by the Department of Telecom, Government of India. With the procurement of 349.2 MHz of spectrum at an aggregate bid value of Rs 12,798 crore, Idea has acquired additional 2x74.6 MHz spectrum in FDD technology on 1800 and 2100 bands, and 200 MHz of capacity spectrum in TDD technology on 2300 and 2500 bands.

This enables Idea to complete its mobile broadband footprint across all 22 licensed service areas in India and also equips the company with substantial capacity spectrum required for meeting data capacity needs for its ever growing 180 million customer base. Idea is now well equipped to offer 4G services on its own spectrum across 20 service areas including 9 new service areas of Uttar Pradesh (West), Uttar Pradesh (East), Gujarat, Bihar & Jharkhand, Rajasthan, Mumbai, West Bengal, Assam and Jammu & Kashmir. Additionally, Idea has also procured 3G spectrum in Bihar & Rajasthan extending its capability to offer 3G services to 15 service areas.

Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.



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