The initial public offering (IPO) of the Aditya Birla group company Idea Cellular was subscribed more than 57 times.Idea's IPO of 32.69 crore shares received bids for a whopping 1,869.86 crore shares.Investment banking sources said the shares would be priced at the upper end of the Rs 65-75 band, and the shares would be listed soon on the bourses.The company is raising Rs 2,125 crore (excluding a greenshoe option of Rs 318.75 crore) via the IPO that closed yesterday.Idea Cellular is the sixth largest mobile operator in India with a presence in 11 circles comprising one metro city, three category A circles, six category B circles and one category C circle.
