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IPO News
Idea Cellular Ltd IPO to hit markets tomorrow
Posted On : 2007-02-10 22:37:57( TIMEZONE : IST )
The Initial Public Offering of Idea Cellular Ltd opens to public for subscription on Monday (February 12, 2007) and closes on Thursday (February 15, 2007). The company is coming out with an IPO of 325,833,660 Equity Shares of Rs.10 each for cash at par in a price band of Rs.5/- to Rs.75/- through 100% book building process.
JM Morgan Stanley Pvt. Ltd., and DSP Merill Lynch Ltd. are the Book Running Lead Managers for the issue. Citigroup Global Markets India Private Limited and UBS Securities India Private Limited are the Senior Co-Book Running Lead Managers. Macquarie India Advisory Services Pvt. Ltd is the Co-Manager to the issue. Big Share Services Pvt Ltd is the Registrar to the Issue.
Out of the issue, 191,500,000 equity shares have been reserved for Qualified Institutional Buyers (QIBs), 31,917,000 shares for Non Institutional Investors 95,750,000 shares for Retail Individual Investors (RIIs) and 6,666,660 shares to the employees of the company.
The company's website is Idea Cellular Ltd
Click on the link for company's IPO prospectus Idea Cellular Ltd Prospectus
About the company:
Idea Cellular is part of the Aditya Birla Group, which is India's first truly multinational corporation. Global in vision, rooted in Indian values, the group is driven by a performance ethic pegged on value creation for its multiple stakeholders.
The combined holding of the Aditya Birla Group companies in Idea stands at 98.3 per cent. Mr Kumar Mangalam Birla has been named the Chairman of the company. The other directors on the board are: Mrs. Rajashree Birla, Chairperson, Aditya Birla Centre for Community Initiatives and Rural Development; Mr. Sanjeev Aga, Managing Director, Aditya Birla Nuvo; Mr. Debu Bhattacharya, Managing Director, Hindalco; Mr. Saurabh Misra, Director, Aditya Birla Management Corporation Ltd. and CEO, UltraTech; and Mr. M. R. Prasanna, Group Executive President (Legal), Aditya Birla Group.
Aditya Birla Nuvo Ltd. holds 35.7 per cent, Birla TMT Holdings Ltd. 44.9 per cent, Grasim 7.5 per cent, and Hindalco 10.1 per cent in Idea.
With ambitious future plans, the company is poised for rapid growth.
