Idea Cellular IPO

Idea Cellular IPO was launched on 12th February 2007. A price band of Rs 65 to Rs 75 per share for equity shares of Rs.10 each for cash at a premium, was fixed for the IPO.

Idea Cellular is one of the Ieading GSM Mobile Services operators in India. Idea Cellular operates in 11 circles and has a subscriber base of more than 17 million across India. Further, it operates in the Indian states of Delhi, Madhya Pradesh, Chhattisgarh, Uttaranchal, Haryana, UP-West, Himachal Pradesh Maharashtra, Goa, Gujarat, Andhra Pradesh and Kerala. It offers a number of value added services to its wide pool customers across India like music messaging, background tones, group talk and women's card. Idea Cellular IPO was launched by the telecommunication arm of the legendary India based business conglomerate - the Aditya Birla Group.

Details of Idea Cellular IPO

Idea Cellular Limited launched its IPO on 12th February 2007 and closed on 15th February 2007. The price band of Idea Cellular IPO was fixed between Rs 65 and Rs 75 per share for equity shares of Rs.10 each for cash at a premium. Further, the price band was decided through a 100% book-building process aggregating to Rs 21,250 million. A pre-IPO placement of Rs 3,750 million was made, to its promoters, directors and certain high net worth individuals. Further, reserved equity shares amounting to Rs.500 million were allotted to eligible employees of the Company. The balance of Rs 20,750 million was allotted to the public. The equity shares of the Idea Cellular IPO were listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Idea Cellular