Idea share sale of upto $506 mn subscribed nearly 3 times

Written By Unknown on Jumat, 06 Juni 2014 | 21.03

The issue would be priced at Rs 134 per share, the sources said, declining to be named as the information is not public. Idea had set an indicative price band of Rs 131-136.35 for the sale, according to a termsheet seen by Reuters.

Telecommunications company  Idea Cellular Ltd's up to USD 506 million share sale to institutional investors, launched on Thursday, received a demand of nearly three times the number of shares on offer, people directly involved with the deal said on Friday.

The issue would be priced at Rs 134 per share, the sources said, declining to be named as the information is not public. Idea had set an indicative price band of Rs 131-136.35 for the sale, according to a termsheet seen by Reuters.

An Idea Cellular spokeswoman declined comment. By 0801 GMT, Idea shares were trading 1.9 percent higher at Rs 139.

($1 = 59.3100 rupees)

Idea Cellular stock price

On June 06, 2014, Idea Cellular closed at Rs 140.80, up Rs 4.45, or 3.26 percent. The 52-week high of the share was Rs 188.35 and the 52-week low was Rs 124.40.


The company's trailing 12-month (TTM) EPS was at Rs 5.09 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 27.66. The latest book value of the company is Rs 46.94 per share. At current value, the price-to-book value of the company is 3.00.


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