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Idea Cellular Ltd Approves Further Issue Of Equity Shares

Thursday, 1 Aug 2013 07:37am EDT 

Idea Cellular Ltd announced that the Board of Directors at its meeting held on August 01, 2013 has approved further issue of equity shares of the Company for an amount not exceeding INR30 billion, by way of Qualified Institutions Placements to the eligible investors in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR Regulations); and a further issue of equity shares of up to an amount not exceeding INR7.5 billion by way of Preferential Issue to Axiata Group Bhd (or its nominee entity) in accordance with the ICDR Regulations pursuant to the provisions contained in the Share Subscription Agreement dated June 25, 2008 entered into with them. The timing, pricing and exact quantum of equity shares to be issued are to be decided by the Securities Allotment Committee, a Committee of the Board of Directors, mandated for the purpose. 

Company Quote

-1.45 -0.79%
3 Jul 2015