Idea limited on Wednesday approved Rs25,000-crore right issue at a
sharp discount. The company set its issue price at Rs12.50 apiece, Rs2.50 premium over face value of Rs10. Share
holders will be able to buy 87 shares for every 38 shares held for the set
issue price, the telecom major said on
the development, the stock initially took a fall through the morning session, amid
high volatility that resulted the stock to hit an intraday low of Rs30.30 down
The Company also fixed the record date as 2 April,
2019 for the purpose of determining the
share holders who will be entitled to apply for the Issue.
stock price gradually recovered its early gains and is trading 1.25% higher at
Rs32.45 on the NSE at 2.10 PM, Wednesday.
In comparison Sensex trade higher by 97 points at 38460 and the Nifty quotes
at 11535.80 up 3.40 points.