Outcome of Board Meeting (EGM on July 10, 2014)

Idea Cellular Ltd has informed BSE that, pursuant to the resolution passed by the Board of Directors of the Company at their meeting held on August 01, 2013, the Securities Allotment Committee of the Board, at its meeting held on June 10, 2014, inter alia, has decided the following:

1. Approved making of issuance of upto 5,18,38,540 Equity Shares of Rs. 10/- each for cash at a price of Rs. 144.68/- per equity share aggregating to approx Rs. 750 crore, on a preferential basis to Axiata Investments 2 (India) Limited (a wholly owned subsidiary of Axiata Group Berhad, Malaysia), subject to necessary approvals; and

2. Convening an Extra-ordinary General Meeting of the members of the Company on July 10, 2014 for approval of the aforesaid preferential issue.

Source : BSE - >www.bseindia.com

Published on June 11, 2014
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