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Idea gets final approval to raise funds up to Rs 3,500 crore

14 Feb 2018 Evaluate

Idea Cellular has received a final approval for issuance of equity shares for an amount not exceeding Rs 3,500 crore, by way of Qualified Institutions Placement (QIP) to the eligible investors in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. The Board of Directors of the company at its meeting held on February 14, 2018, approved 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.

Peers
Company Name CMP
Bharti Airtel 1833.00
Vodafone Idea 13.20
Indus Towers 385.00
Tata Communications 1660.15
Railtel Corp. India 254.45
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