Idea Cellular opens QIP issue of equity shares

Aggregating up to Rs 3000 crore; Floor prices per share Rs 136.98

Idea Cellular announced that the Securities Allotment Committee of the Board of Directors of the Company, at its meeting held on 05 June 2014, has decided to open a QIP issue by way of issue of Equity Shares aggregating upto Rs 3,000 crore, in accordance with the provisions of Chapter VIII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (SEBI ICDR Regulations) and section 42 of the Companies Act, 2013 and the rules made thereunder.

The said issue is being carried out in accordance with the resolution passed by the shareholders of the Company at the Annual General Meeting held on 16 September 2013.

Further, in terms at Regulations 81(c) of Chapter VIII of the SEBI ICDR Regulations the Committee has fixed June 05, 2014 as the 'Relevant Date' and accordingly the floor price is Rs 136.98 per Equity Share as per the pricing formula under Regulation 85 of Chapter VIII of the SEBI ICDR Regulations, 2009.

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