Idea Cellular allots 199153469 Equity Shares pursuant to the Scheme of Amalgamation

Idea Cellular Ltd has announced that Committee of Directors of the Company at its meeting held on March 17, 2010, has issued and allotted 19,91,53,469 Equity Shares of Rs.10/- each fully paid up to the Equity Shareholders of Spice Communications Ltd (Spice), whose name appeared in its Register of Members on March 12, 2010, being the Record Date fixed for the purpose, in the ratio of 49 (forty nine)Equity Shares of Idea Cellular Limited for every 100(one hundred) Equity Shares of Spice, pursuant to the Scheme of Amalgamation of Spice Communications Ltd with Idea Cellular Ltd.

Consequent, to the aforesaid allotment, the paid up Equity Share Capital of the Company stands increased to Rs. 3299,62,10,780/- comprising of 329,96,21,078 equity shares of Rs. 10/- each.

The stock was trading at Rs.66.25, up by Rs.1.90 or 2.95%. The stock hit an intraday high of Rs.66.75 and low of Rs.64.40.

The total traded quantity was 1423954 compared to 2 week average of 627383.

Source : Equity Bulls

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