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Idea Cellular gains on getting nod to raise funds up to Rs 3,250 crore

04 Jan 2018 Evaluate

Idea Cellular is currently trading at Rs. 104.10, up by 1.55 points or 1.51% from its previous closing of Rs. 102.55 on the BSE.

The scrip opened at Rs. 103.00 and has touched a high and low of Rs. 105.60 and Rs. 101.90 respectively. So far 945443 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 123.75 on 20-Mar-2017 and a 52 week low of Rs. 66.60 on 13-Jan-2017.

Last one week high and low of the scrip stood at Rs. 108.60 and Rs. 99.40 respectively. The current market cap of the company is Rs. 37481.91 crore.

The promoters holding in the company stood at 42.38%, while Institutions and Non-Institutions held 35.04% and 22.58% respectively.

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.

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