Telecom firm Spice Mobility Ltd hopes to raise about Rs 300 crore by October by selling 300 crore treasury shares, a top official said on Tuesday.
The group is merging Spice Televentures, an unlisted telecom unit into Spice Mobiles and has renamed the joint company as Spice Mobility.
The merger has resulted in a little over 400 crore treasury shares of which 100 crore will be kept for employees and 300 crore shares will be for sale, Chairman Bhupendra Kumar Modi told reporters on Tuesday.
