NSE Turns Down Spice Telecom Listing

While talks between Idea Cellular and Spice Telecom seem to have fizzled off, Spice now faces yet another hurdle ahead of its initial public offering. The BK Modi-owned GSM operator, which caters to the Punjab and Karnataka circles, has been denied listing permission by the National Stock Exchange on the grounds that its accumulated losses have exceeded the net worth. [via the Financial Express] The Business Standard reports the company

Comments have been disabled for this post