Mumbai Feb 21 (IANS) Idea Cellular on Wednesday said its capital raising committee has approved an issue price of Rs 82.50 per equity share for sale of shares through a qualified institutional placement (QIP) to raise Rs 3 500 crore.
"The capital raising committee of the company at its meeting held on Wednesday approved the closure of the issue period for the QIP " it said in a regulatory filing.
"(The committee) determined and approved the issue price of Rs 82.50 per equity shares (including a premium of Rs 72.50 per equity share) for issuance of 424.2 million equity shares aggregating approximately to Rs 35 000 million (Rs 3 500 crore) to be allotted to the eligible qualified institutional buyers in the QIP " it further said.
The committee also approved and adopted the placement document in connection with the QIP.
--IANS
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