Idea Cellular launches up to $506 million share sale

NEW DELHI (Reuters) - Idea Cellular Ltd said on Thursday it was launching a share sale of up to 30 billion rupees ($505.5 million), as it needs to buy airwaves in the next government auction.

The floor price for the sale is 136.98 rupees, the country's third-biggest mobile phone carrier, said in a filing to stock exchanges.

($1 = 59.3450 rupees)

(Reporting by Devidutta Tripathy; Editing by Anupama Dwivedi)