Idea Cellular’s initial public offering (IPO) was oversubscribed by 57 times, receiving 18.7 billion bids for its offer of 327 million equi ty shares.

Idea Cellular’s initial public offering (IPO) was oversubscribed by 57 times, receiving 18.7 billion bids for its offer of 327 million equity shares. Idea Cellular launched its initial public offering (IPO), aggregating Rs 21.25 billion worth of equity shares, and had fixed the price band for the issue at between Rs 65 and Rs 75 per equity share. The shares are to be listed on the Bombay Stock Exchange and the National Stock Exchange. Idea had already sold shares worth Rs 3.62 billion in its pre-IPO placement.