Idea Cellular Ltd allots 51838540 shares to Axiata Investments

The Securities Allotment Committee of the Board of Directors of Idea Cellular Ltd has, at its meeting held on July 24, 2014, issued and allotted 51,838,540 Equity Shares of face value of Rs. 10/- each to Axiata Investments 2 (India) Limited at an issue price of Rs. 144.68 per Equity Share, including a premium of Rs. 134.68 per Equity Share, aggregating approximately to Rs. 750 crore, on a preferential basis, under the SEBI Regulations and Section 42 of the Companies Act, 2013 and the rules made thereunder.

The Shareholders of the Company had approved the allotment vide special resolution passed at the Extra-ordinary General Meeting held on July 10, 2014.

Post the said allotment, the paid-up equity share capital of the Company stands increased to Rs. 35,958,984,180 comprising of 3,595,898,418 equity shares of Rs. 10/- each, fully paid-up.

Shares of IDEA CELLULAR LTD. was last trading in BSE at Rs.151.45 as compared to the previous close of Rs. 148.75. The total number of shares traded during the day was 851756 in over 12035 trades.

The stock hit an intraday high of Rs. 152.5 and intraday low of 148.2. The net turnover during the day was Rs. 128586837.

Source : Equity Bulls

Keywords