The company is raising funds for upcoming spectrum auctions. Nine circles in which Idea Cellular holds spectrum in the premium 900 MHz band are coming up for renewal between December 2015 and April 2016.
Country's third largest telco Idea Cellular today said it has raised total Rs 3,750 crore from its qualified institutional placement offering and preferential issue to existing shareholder Axiata as the firm creates a war chest for the spectrum auctions later this year. Idea in separate filings to the BSE said the securities allotment committee of the board of directors has approved issuance of up to 5.18 crore shares at a price of Rs 144.68 per equity share worth Rs 750 crore to Axiata Investments 2 (India) Limited.
On June 12, 2014, at 11:26 hrs Idea Cellular was quoting at Rs 142.45, down Rs 1.15, or 0.8 percent. The 52-week high of the share was Rs 188.35 and the 52-week low was Rs 125.10. The company's trailing 12-month (TTM) EPS was at Rs 5.09 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 27.99. The latest book value of the company is Rs 46.94 per share. At current value, the price-to-book value of the company is 3.03.
Country's third largest telco Idea Cellular today said it has raised total Rs 3,750 crore from its qualified institutional placement offering and preferential issue to existing shareholder Axiata as the firm creates a war chest for the spectrum auctions later this year. Idea in separate filings to the BSE said the securities allotment committee of the board of directors has approved issuance of up to 5.18 crore shares at a price of Rs 144.68 per equity share worth Rs 750 crore to Axiata Investments 2 (India) Limited.
On June 12, 2014, at 11:26 hrs Idea Cellular was quoting at Rs 142.45, down Rs 1.15, or 0.8 percent. The 52-week high of the share was Rs 188.35 and the 52-week low was Rs 125.10. The company's trailing 12-month (TTM) EPS was at Rs 5.09 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 27.99. The latest book value of the company is Rs 46.94 per share. At current value, the price-to-book value of the company is 3.03.
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