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Idea Cellular Ltd (IDEA.NS)

IDEA.NS on National Stock Exchange of India

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Latest Key Developments (Source: Significant Developments)

Idea Cellular filed application before NCLT for approval of Vodafone merger
Monday, 7 Aug 2017 11:49pm EDT 

Aug 8 (Reuters) - Idea Cellular Ltd :Co on Monday filed application before NCLT, Ahmedabad Bench, for approval of merger with Vodafone India, Vodafone Mobile Services‍​.  Full Article

India's Idea cellular working with phone vendors to make phones affordable: exec
Friday, 28 Jul 2017 06:58am EDT 

July 28 (Reuters) - India's Idea Cellular :Exec says have no intention to subsidize handsets, working with phone vendors to make phones affordable.Exec says hopeful to launch Volte services in early half of calendar 2018.Exec says hopeful of government participation to de-stress telecom sector.Exec says trying to optimize cost to make up for loss of revenue.Exec says consolidation of market and higher data usage will lead to revenue recovery.  Full Article

Idea Cellular June quarter blended ARPU 141 rupees
Thursday, 27 Jul 2017 07:33am EDT 

July 27 (Reuters) - Idea Cellular Ltd :June quarter blended ARPU INR 141.June quarter ARPM 0.32 rupees.June quarter blended churn 6.7 percent.  Full Article

India's Idea Cellular posts June qtr loss
Thursday, 27 Jul 2017 07:19am EDT 

July 27 (Reuters) - Idea Cellular Ltd :India's Idea Cellular Ltd June quarter consol loss 8.15 billion rupees.Consensus forecast for June quarter consol net loss was 6.71 billion rupees.June quarter consol total income 81.82 billion rupees versus 95.52 billion rupees last year.Says upheaval in Indian wireless industry continued in Q1 FY 18.Says agrressive tariff offerings by Idea resulted in steep decline of voice and mobile data realisation rates‍​.Says for co, fall in realisation rates largely compensated by substantial volume growth in both mobile voice and data segments.Says co also remains on course to introduce VOLTE voice services on 4G LTE network by early calendar year 2018.Says net debt as on June 30, 2017 stands at INR 539.2 billion.Says capex guidance for FY18 stands at INR 60 billion.Co's gross investment in fixed has now risen to over 11.95 billion rupees, a net addition of 5.45 billion rupees over the last 24 months.The profit alert was first sourced from TV and later confirmed from a press release on the National Stock Exchange.  Full Article

Idea Cellular says co, Vodafone India welcome CCI merger clearance
Tuesday, 25 Jul 2017 09:08am EDT 

July 25 (Reuters) - Idea Cellular Ltd ::Vodafone and Idea welcome CCI merger clearance.Idea Cellular says "welcome decision of Competition Commission of India approving proposed merger of Vodafone India and Idea Cellular".Idea Cellular - expected that other statutory approvals will be forthcoming and we anticipate completing transaction during 2018.  Full Article

Idea Cellular says Madhabi Buch resigns as independent director
Monday, 3 Apr 2017 09:06am EDT 

Idea Cellular Ltd :Says Madhabi Buch resigned as independent director.  Full Article

Bharti Airtel adds about 1.2 mln subscribers in Feb - industry body
Thursday, 23 Mar 2017 06:27am EDT 

Cellular Operators Association of India: Bharti Airtel adds about 1.2 million subscribers in Feb, total mobile subscriber at Feb end 270.6 mln - industry body . Vodafone india unit adds about 792,063 subscribers in Feb, total mobile subscriber at Feb end 207.2 mln - industry body . Idea adds about 1.2 million subscribers in Feb,total mobile subscriber at Feb end 193.3 mln - industry body . Aircel adds 13,309 mobile subscribers in Feb, total mobile subscriber at Feb end 91.1 mln - industry body .Telenor india unit's subscribers reduced by 986,068 in Feb, total mobile subscriber at Feb end 51.6 mln - industry body.  Full Article

India's Idea exec says deal with Vodafone consistent with country's telecoms M&A rules
Monday, 20 Mar 2017 02:36am EDT 

India's Idea Cellular and Vodafone Plc: Vodafone exec says deal consistent with India telecoms M&A rules . Idea exec says founders buying extra stake from Vodafone will not be funded by any listed Aditya Birla Group Co . Vodafone exec says need to shed a small amount of spectrum . Vodafone exec says pending income tax demand has nothing to do with current deal . Idea exec says there will be many exciting opportunities for both Idea and Vodafone employees, don't see significant job cuts . Vodafone exec says both brands i.e. Idea and Vodafone to continue Further company coverage: [VOD.L] [IDEA.NS] (Reporting By Devidutta Tripathy and Sankalp Phartiyal) ((swati.bhat@thomsonreuters.com;)).  Full Article

Idea Cellular board approves merger with Vodafone India
Monday, 20 Mar 2017 12:17am EDT 

Idea Cellular Ltd : Says board approved scheme of amalgamation of Vodafone India and its unit Vodafone Mobile Services Ltd with co . Entire business of VIL and VMSL, excluding VIL's investment in Indus Towers, international network assets and IT platforms, to vest in co . On amalgamation of VMSL becoming effective, co shall issue shares of co to VIL equal to 47 percent of post issue paid-up capital of co . Vodafone to own 45.1 percent of combined co after transferring about 4.9 percent to promoters of Idea and/or affiliates for INR 38.74 billion in cash . Promoters of Idea, Vodafone have right to nominate 3 directors each . Promoters of Idea have sole right to appoint chairman . Appointment of CEO, COO will require approval of both promoters of Idea and Vodafone . Vodafone has right to appoint CFO of company . Promoters of Idea have right to buy up to 9.5 percent additional stake from Vodafone under agreed mechanism with view of equalising shareholdings over time . Agreement contemplates completion of proposed amalgamation with a period of 24 months . Until equalisation is achieved, voting rights of additional shares held by Vodafone will be restricted and votes will be exercised jointly . Idea to contribute all of its assets including standalone towers with 15.4k tenancies and 11.15 percent stake in Indus Towers.  Full Article

Idea Cellular says no proposal on demerger of tower business portfolio being considered by co
Wednesday, 15 Mar 2017 08:03am EDT 

Idea Cellular Ltd : Idea cellular limited clarifies on news item "idea to demerge tower business portfolio and sell majority stake." .Says currently, there is no such proposal as reported by media that is being considered by the board.  Full Article

BRIEF-Idea Cellular filed application before NCLT for approval of Vodafone merger

* Co on Monday filed application before NCLT, Ahmedabad Bench, for approval of merger with Vodafone India, Vodafone Mobile Services‍​ Source text: http://bit.ly/2hEOTih Further company coverage:

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