Idea Cellular has received its shareholders’ approval to increase the investment limit for overseas investors to 49%. At present, FII share holding in the company is about 17.95% of the paid up capital. Holding of overseas investors in the company has consistently risen in the past few quarters.
The Aditya Birla group company’s move seeking nod for hiking the cap comes ahead of the next round of spectrum auctions scheduled to be held in February 2014. Meanwhile, the company’s board has already passed an enabling resolution to raise funds of upto Rs 3,000 crore through the Qualified Institutional Placements route.
At the end of September 2013, the promoters holding in the company stood at 45.85% while institutions and non-institutions held 22.19% and 31.96% stake in the company, respectively.
The Aditya Birla group company’s move seeking nod for hiking the cap comes ahead of the next round of spectrum auctions scheduled to be held in February 2014. Meanwhile, the company’s board has already passed an enabling resolution to raise funds of upto Rs 3,000 crore through the Qualified Institutional Placements route.
At the end of September 2013, the promoters holding in the company stood at 45.85% while institutions and non-institutions held 22.19% and 31.96% stake in the company, respectively.
No comments:
Post a Comment