Telecom operator Idea Cellular said it is on track with its plans to raise Rs 2,500 crore (Rs 25 billion) through its initial public issue and plans to clear all formalities by the month-end.
The company will go in for a pre-IPO private placement of 15 per cent of the shares to be offered through the issue.
Government's resolution on the contentious issue of spectrum usage fee seems to have found favour with telecom operators with none of them withdrawing their application from airways auction on the last day on Monday.
The Singapore Technologies Telemedia (STT) and Telekom Malaysia (TMI) consortium has pulled out of the transaction for acquiring 47.7 per cent stake in Idea Cellular for a consideration of $390 million.
Demand for 1,800-MHz weak but govt secures a combined Rs 42k cr on Day-1
The Indian cueist proved too good for former World champion C Praput of Thailand in the final.
Pankaj Advani also made the grade in the fourth Asian Billiards Championship.
Telecom regulator TRAI has asked Hutch and Idea Cellular to stop charging higher rates for calls made to the mobile networks of state-owned BSNL and MTNL as compared to the same made to private GSM operators.\n
Aditya Birla group on Tuesday announced it had concluded acquisition of Tata group's 49 per cent stake in Idea Cellular Ltd for Rs 4,406 crore
Telecom Regulatory Authority of India has issued show cause notices to Bharti Tele, Reliance Infocomm, and Idea Cellular for not adhering to prescribed format for advertising tariffs to consumers.
Jio says it has completed mobile number portability testing and is certified MNP-compliant
Given the escalating cost of doing business, the revenue opportunity is decreasing and consolidation is an inevitable part of the industry.
Encouraged by the licence fee cut in the long distance segment, Idea Cellular on Friday said it was looking at the possibility of entering that market but only if it made business sense.
The Indian national champion will meet C. Praput of Thailand in the title round of the Asian Billiards Championship.
BSNL, Tata Teleservices and Reliance Communications, who also provide GSM technology-based services, are not part of the report.
With cellular telephony fast expanding, Samsung on Friday said it has tied up with India's largest cellular operator AirTel for bundling of handsets in all circles.
Nokia has signed a $24 million deal with Idea Cellular for supplying GSM and GPRS network equipment and multimedia services in India.
Currently, MNP is only available within a state/circle.
HDFC Bank on Tuesday ruled out merger with its parent HDFC or acquiring smaller banks in the near future, but said it has embarked on an aggressive organic growth path in India and abroad.\n\n
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
Vodafone Idea, the country's third largest telecom operator, on Wednesday reported a staggering Rs 73,878 crore of net loss in fiscal ended March 2020 -- the highest ever by any Indian firm -- after it provisioned for Supreme Court-mandated statutory dues. The firm, which has to pay Rs 51,400 crore dues after the apex court ordered the non-telecom revenues to be included in calculating statutory dues, said the liability has "cast significant doubt on the company's ability to continue as a going concern".
The minister said the companies have given representation which is being examined by the DoT before taking a final decision.
A consortium led by Singapore Technologies Telemedia Pte and Telekom Malaysia Bhd has bid for the one-third stake of AT&T Wireless Services Inc in Indian telecom major Idea Cellular Ltd.
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