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Idea Cellular rises on completing sale of standalone tower business to ATC

01 Jun 2018 Evaluate

Idea Cellular is currently trading at Rs. 62.25, up by 0.60 points or 0.97% from its previous closing of Rs. 61.65 on the BSE.

The scrip opened at Rs. 63.00 and has touched a high and low of Rs. 63.20 and Rs. 62.05 respectively. So far 423710 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 118.00 on 05-Jan-2018 and a 52 week low of Rs. 50.05 on 14-May-2018.

Last one week high and low of the scrip stood at Rs. 63.20 and Rs. 59.80 respectively. The current market cap of the company is Rs. 27205.25 crore.

The promoters holding in the company stood at 42.56%, while Institutions and Non-Institutions held 38.37% and 19.07% respectively.

Idea Cellular has completed sale of its pan-India standalone tower business, by way of divesting its entire stake in Idea Cellular Infrastructure Services (ICISL) (100% subsidiary of Idea), to ATC Telecom Infrastructure (ATC). The transaction has been closed with an enterprise value of Rs 4,000 crore for approximately 9,900 standalone towers.

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 1837.00
Vodafone Idea 14.29
Indus Towers 375.55
Tata Communications 1798.65
Railtel Corp. India 252.55
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