 "Idea")
Idea Cellular soared 9% to Rs 114 on BSE after the board approved fund raising of up to Rs 3,250 crore through issue of shares to promoter group companies via preferential issue at Rs 99.50 per share.
“In the first tranche, the company will raise Rs 3,250 crore by issuing around 326.6 million preferential shares at Rs 99.50 a unit to four entities of the promoter group — Birla TMT Holdings Pvt Ltd, Elaine Investments Pte Ltd (Singapore), Oriana Investments Pte Ltd (Singapore) and Surya Kiran Investments Pte Ltd (Singapore) — subject to regulatory approvals,” Idea Cellular said in
“In the first tranche, the company will raise Rs 3,250 crore by issuing around 326.6 million preferential shares at Rs 99.50 a unit to four entities of the promoter group — Birla TMT Holdings Pvt Ltd, Elaine Investments Pte Ltd (Singapore), Oriana Investments Pte Ltd (Singapore) and Surya Kiran Investments Pte Ltd (Singapore) — subject to regulatory approvals,” Idea Cellular said in
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