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Shares of Idea Cellular will remain active following opening of the ₹3,000-crore QIP issue. The securities allotment committee of Idea’s board of directors on Thursday fixed June 5 as the relevant date for the qualified institutional placement issue. The committee has fixed the floor price at ₹136.98 a share. Reports suggest that Idea Cellular, one of India’s largest wireless services operators, seeks to shore up its finances ahead of the spectrum auctions later this year.
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