A price band of ` 65 to ` 75 per share for equity shares of `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.
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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.
Details of Idea Cellular IPOIdea 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 ` 65 and ` 75 per share for equity shares of `10 each for cash at a premium.
Further, the price band was decided through a 100% book-building process aggregating to ` 21,250 million. A pre-IPO placement of ` 3,750 million was made, to its promoters, directors and certain high net worth individuals. Further, reserved equity shares amounting to `500 million were allotted to eligible employees of the Company.