Idea Cellular has received an approval for the issuance of up to 32,66,33,165 equity shares of face value of Rs 10 each at an issue price of Rs 99.50 per equity share (including a premium of Rs 89.50 per equity share) to Birla TMT Holdings and/ or Elaine Investments, Singapore and/or Oriana Investments, Singapore and/or Surya Kiran Investments, Singapore (Proposed Allottees) on a preferential basis for an aggregate consideration of up to Rs 3,250 crore. The board of directors at their meeting held on January 4, 2018, has approved for the same.
Idea Cellular is an AV Birla group company and provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level.
