Idea to raise up to $642 mn in IPO

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Old 13th December 2006, 01:52 AM
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Default Idea to raise up to $642 mn in IPO



Idea to raise up to $642 mn in IPO

Idea Cellular Ltd expects to raise up to Rs 28.75 billion ($641.7 million) in an initial public offering, the firm said in a regulatory filing. Idea did not say how much stock it planned to sell, but said it proposed to complete 15 per cent of the planned fund raising through a pre-IPO placement to a few institutions.

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