Breaking News

You are here » Indian-Commodity  :  Corporate  :  Idea Cellular raises Rs 3,500 crore via QIP

24-Feb2018

Idea Cellular raises Rs 3,500 crore via QIP

Idea Cellular has successfully closed a Qualified Institutions Placement (QIP) to raise Rs 3,500 crore. The company has issued and allotted about 42.42 crore equity shares to qualified institutional buyers at an issue price of Rs 82.50 per equity share (including a premium of Rs 72.50 a share), amounting to about Rs 3,500 crore.
DSP Merrill Lynch and Citigroup Global Markets India acted as global co-ordinators and book running lead managers to the issue.

This equity raise of Rs 3,500 crore along with recent infusion of Rs 3,250 crore by the company's promoter/ promoter group will reduce Idea's net-debt by approximately Rs 6,750 crore.

Idea Cellular is an AV Birla group company and provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level.


Related News

View all news

Wipro enters into strategic partnership with Saxo Bank

Wipro and Saxo Bank Group, a leading multi asset trading, have entered into strategic partnership. Saxo Bank has chosen Topcoder, a Wipro company and the world's largest talent network and crowdsourcing......

Wipro features as leader in Everest Group's PEAK Matrix Assessment 2019

Wipro has been positioned as a leader in Everest Group's recent report on Application Services in Capital Markets - Services PEAK Matrix Assessment 2019: Data, Cloud and Platform Investments to Fuel Innovation......

Datamatics Global Services gets nod to merge Lumina Datamatics

Datamatics Global Services (DGSL) and Lumina Datamatics (Lumina) have received approval to merge the two companies into DGSL. The merged Company would then be vertically split into two companies, namely,......

Top News

View all news

Wipro enters into strategic partnership with Saxo Bank

Wipro and Saxo Bank Group, a leading multi asset trading, have entered into strategic partnership. Saxo Bank has chosen Topcoder, a Wipro company and the world's largest talent network and crowdsourcing......

Wipro features as leader in Everest Group's PEAK Matrix Assessment 2019

Wipro has been positioned as a leader in Everest Group's recent report on Application Services in Capital Markets - Services PEAK Matrix Assessment 2019: Data, Cloud and Platform Investments to Fuel Innovation......

Datamatics Global Services gets nod to merge Lumina Datamatics

Datamatics Global Services (DGSL) and Lumina Datamatics (Lumina) have received approval to merge the two companies into DGSL. The merged Company would then be vertically split into two companies, namely,......