Idea Cellular, India’s fifth-largest mobile phone service provider by subscribers, said it is aiming to raise INR25 billion ($560 million) through an initial public offering. Up to 15% of the shares to be offered will be set aside for a pre-IPO placement. The Aditya Birla Group company owns about 66% of the telco.
This article indicates that the IPO will involve nearly 10-12% of the post-issue capital, which put its valuation at Rs 20,000-25,000 crore (US$4.464 billion – $5.58 billion).
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