News Digest

04 January 2018
Idea unveils $1.1 billion fundraising plan ahead o

Idea Cellular Ltd, India's third largest mobile services operator, on Thursday unveiled a 67.5 billion-rupee ($1.1 billion) fundraising plan ahead of its merger with Vodafone's local unit. As part of the plan, Idea will raise 32.5 billion rupees by selling 326.6 million shares on a preferential basis to companies controlled by its parent Aditya Birla Group at 99.5 rupees apiece.As part of the plan, Idea will raise 32.5 billion rupees by selling 326.6 million shares on a preferential basis to companies controlled by its parent Aditya Birla Group at 99.5 rupees apiece.

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