Idea Cellular IPO price band fixed at Rs 65-75

Aditya Birla’s Idea Cellular is one of the several smaller players in the Indian mobile market. The company is planning to issue an IPO.

The company has fixed the price band for its forthcoming initial public offer between Rs 65 and Rs 75 a share.

This share is likely to be listed on both National Stock Exchange and the Bombay Stock Exchange.

Idea said that the float is being routed through a 100 per cent book-building, aggregating to Rs 2,125 crore. They would be opening up the issue on February 12.

Idea has also concluded a pre-IPO placement of Rs 375 crore to certain of its promoters, directors and certain high net worth individuals.