India's Idea Cellular share sale of up to $506 mln subscribed nearly 3 times - sources
MUMBAI, June 6
MUMBAI, June 6 (Reuters) - Indian telecommunications company Idea Cellular Ltd's up to $506 million share sale to institutional investors, launched on Thursday, received a demand of nearly three times the number of shares on offer, people directly involved with the deal said on Friday.
The issue would be priced at 134 rupees per share, the sources said, declining to be named as the information is not public. Idea had set an indicative price band of 131-136.35 rupees for the sale, according to a termsheet seen by Reuters.
An Idea Cellular spokeswoman declined comment. By 0801 GMT, Idea shares were trading 1.9 percent higher at 139 rupees. ($1 = 59.3100 Indian Rupees) (Reporting by Sumeet Chatterjee; Editing by Prateek Chatterjee)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Probe: Athletes took fake classes at University of North Carolina
- Canada's Harper vows tighter security after Parliament attack |
- Some U.S. hospitals weigh withholding care to Ebola patients
- Man arrested after jumping White House fence, causing lockdown