Key Developments: 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 Ltd recommends dividend
Monday, 28 Apr 2014 07:17am EDT 

Idea Cellular Ltd:Recommends dividend of 0.40 Indian rupees per equity share of 10 Indian rupees each for the financial year ended March 31.  Full Article

Idea Cellular Ltd to challenge govt penalty notice
Tuesday, 3 Dec 2013 12:04am EST 

Idea Cellular Ltd:Has received a government notice asking for 6 billion Indian Rupees ($96 million) in penalties for allegedly violating rules when it acquired a smaller rival five years ago.Idea is preparing to challenge the government order, it said in a filing to the stock exchanges.  Full Article

Idea Cellular Ltd announces recent DoT letter on pending transfer/ name change of erstwhile Spice Communications UAS licenses to Idea Cellular Ltd
Monday, 2 Dec 2013 11:23pm EST 

Idea Cellular Ltd:Says that it has received a communication from Department of Telecommunication, Ministry of Communications & IT, on imposition of financial penalty of sum of Indian rupees 6.00 bln for alleged violation of terms and conditions of CMTS /UAS licenses while acquiring erstwhile Spice Communications Ltd.Says that the erstwhile Spice Communications Ltd was amalgamated with Idea effective Mar. 01, 2010, after approval of company merger by Gujarat High Court on Nov. 26, 2009, and Delhi High Court on Feb. 05, 2010.Says now the DoT has written that it is prepared to take the merger of companies on record and change the name of two Spice UAS licenses of Punjab & Karnataka Service Areas subject to Idea paying financial penalty of Indian rupees 6.00 bln besides other list of compliances within next 15 days.Says it is preparing to take necessary steps to challenge the DoT letter at appropriate forum.  Full Article

Idea Cellular Ltd Announces Allotment Of Equity Shares
Wednesday, 25 Sep 2013 05:11am EDT 

Idea Cellular Ltd announced that it has vide its circular resolution dated September 24, 2013 allotted 261,461 Equity Shares of INR10 each to the Option Grantees, pursuant to the exercise of Stock Options.  Full Article

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.  Full Article

Idea Cellular Ltd Announces Updates On Scheme Of Arrangement
Thursday, 13 Jun 2013 06:30am EDT 

Idea Cellular Ltd announced that the Hon'ble High Court of Delhi vide its order dated April 18, 2013 has sanctioned a Scheme of Arrangement, inter-alia, for merger of 'Idea Cellular Towers Infrastructure Limited' (a wholly owned subsidiary of the Company) with Indus Towers Limited. The said merger has become effective from June 11, 2013.  Full Article

India's Idea Cellular Q4 profit jumps 60 pct

MUMBAI, April 28 - India's Idea Cellular Ltd on Tuesday posted a better-than-expected 60 percent jump in quarterly profit, helped by higher data revenue and strong subscriber growth.

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