Latest News
-
FREE, FREE, FREE! 3:1 Bonus: Pharma Stock Hits Back-To-Back Upper Circuits; 500 Shares To Earn Rs 1,69,500 -
1:10 Stock Split: Below Rs 10, Fertilizer Sector Turned Ex-Split; 8,282% Returns In 5 Years -
Rs 17/Share Dividend: Record Date On April 26; Buy The ICICI Group Stock To Be Eligible? -
Honasa Consumer to Strengthen Operations by Merging Fusion Cosmeceutics and Just4Kids -
Wipro Reports 7.8% Decline in Q4 Net Profit; CEO Highlights Economic Challenges -
IREDA Hits Record Annual PAT of Rs 1,252 Cr in FY24; Q4 Profits Up by 33% -
Massive Employee Exodus Hits India's Top IT Companies in FY23-24 -
Air India Enhances Operational Efficiency with New Crew Management System -
BlackRock Acquires Shares in Electrosteel Castings and PTC India for Rs 207 Crore -
IndiGo Enhances Domestic Routes with Direct Chennai-Durgapur Flights
Idea Cellular to Raise Rs. 3,250 Cr From Promoters, Share Price Rises by 2.78% on Announcement
Idea Cellular has been given the board's approval to raise Rs. 3,250 crores from promoter group entities in today's meeting.
Idea Cellular has been given the board's approval to raise Rs. 3,250 crores from promoter group entities in today's meeting.
The board approved issuing Rs. 32.66 crore preferential shares at Rs 99.50 a piece to all or any of Birla TMT Holdings Pvt Ltd., Elaine Investments Singapore, Oriana Investments Singapore, Surya Kiran Investments Singapore. The telecom operator to also set up a panel to consider options to raise an additional Rs. 3,500 crore via a preferential issue, a qualified institutional placement or a rights issue.
The sale of Idea's standalone towers sale to ATC, its potential monetisation of its 11.15 percent stake in Indus Towers Ltd. and proposed fundraising will supplement its long-term capital resources, the company said. It would strengthen the balance sheet of the merged entity, Vodafone India. The merger is expected to be completed this year.
Its share price raised by 2.78% to Rs. 105.55.
