Spice Telecom to raise $300mn via IPO route

Spice Telecom, which has operations in Punjab and Karnataka circles, will shortly launch its IPO to raise $250-300 million, Dilip Modi, CEO of the company, said today.

The company would invest about two billion dollar for its expansion, which include a new circle it has applied for. The $2 billion would be raised from a range of options like equities, debt, promoters' funding and IPO funds, he said.