Idea Cellular has raised over Rs 72 billion from the allotment of over 460 million equity shares to TMI Mauritius on a preferential basis. The share issuance committee of the board of Idea Cellular has completed allotment of the 464.73 million equity shares representing 14.99 per cent of the company, at Rs 156.96 each, on a preferential basis, against the receipt of Rs 72.94 billion. TMI Mauritius initially held 49 per cent in Spice Communications, which translated into a 5 per cent corresponding stake in the merged Idea-Spice entity. The stake of TMI in the merged entity will be 20 per cent after the completion of the preferential offer.
