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Our Bureau

New Delhi , Dec. 11

Idea Cellular, an Aditya Birla Group company, has filed its draft red herring prospectus with the Securities and Exchange Board of India for a proposed initial public offer through a 100 per cent book-building process aggregating Rs 2,500 crore.

The company proposes to reserve equity shares amounting to Rs 50 crore for allotment to eligible employees of the company with the balance of Rs 2,450 crore to be available for allotment to public.

The company proposes a greenshoe option not exceeding Rs 375 crore in excess of the equity shares that are included in the issue of Rs 2,500 crore.

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