Idea Cellular closes Qualified Institutions Placement

The Securities Allotment Committee of the Board of Directors of Idea Cellular Ltd ("the Committee"), at its meeting held on June 09, 2014, has decided to close the Issue and approved the issuance of 223,880,597 Equity Shares of face value of Rs. 10/- each to qualified institutional buyers (the "QIBs") at an issue price of Rs. 134/- per Equity share, including a premium of Rs. 124/-per Equity Share, aggregating approximately to Rs. 30,000 million.

The Issue had opened on June 5, 2014.

Shares of IDEA CELLULAR LTD. was last trading in BSE at Rs.145.25 as compared to the previous close of Rs. 146.45. The total number of shares traded during the day was 999225 in over 13997 trades.

The stock hit an intraday high of Rs. 147.85 and intraday low of 142.45. The net turnover during the day was Rs. 145063300.

Source : Equity Bulls

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