Wednesday, March 07, 2007

Idea to debut on bourses on March 9

Idea Cellular is all set to make its debut on the bourses on March 9, thereby giving a significant boost to the market cap of the Aditya Birla group, reports our Bureau from Mumbai.

The listing of Idea Cellular would make it the seventh publicly-traded company for the $10-billion Birla conglomerate that has varied interests ranging from metals and cement to textiles and BPO. The market capitalisation of the group, currently at Rs 45,454 crore, could see a jump given that Idea’s 32.69 crore share IPO has targeted to raise about Rs 2,125 crore.

The allotment process in the IPO of the group’s telecom unit Idea Cellular, has been completed. The Idea IPO was lead managed by JM Financial and DSP Merrill Lynch, while Big Share was the registrar to the issue.

Source : http://economictimes.indiatimes.com

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