GSM service provider Idea Cellular has fixed October 6, 2008, as the closing date for its open offer for an additional 20 per cent stake in Spice Communications.
In a filing to the Bombay Stock Exchange, Idea Cellular has said that the closing date has been fixed as October 6.
Earlier, the open offer scheduled to open on August 22 and close on September 11, but was deferred indefinitely due to a delay in receiving approvals from market regulator Securities and Exchange Board of India (Sebi).
On June 30, Idea Cellular had announced the open offer for acquiring about 137.9 million shares in the BK Modi-led firm at Rs 77.30 a share. Later on August 14, it was deferred to a later date.
This announcement was made by Idea Cellular along with Persons Acting in Concert (PACs), including Telekom Malaysia International (TMI), TMI Mauritius, TM International Berhad and Green Acre Agro Services.