IDEA Cellular ends with 14.27% premium

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IDEA Cellular ends with 14.27% premium

An Aditya Birla Group company, Idea Cellular, which is amongst the leading mobile operators in India, has ended at Rs 85.7, with 14.27% premium over its offer price of Rs 75 per share.

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Idea Cellular , which is an Aditya Birla Group company is amongst the leading mobile operators in India, performed well on the bourses on its listing day.

It opened at Rs 85, with 13.33% premium and touched an intraday high of Rs 92 on the back of good buying interest from investors despite volatility in the markets.

It was hovering around Rs 85 levels since morning and did not go below its low of Rs 84.40. It looks like investors especially institutional investors supported the stock at Rs 85 level.

It ended at Rs 85.70, up 14.27%, with volumes of 17,49,44,156 shares on the NSE.

On the BSE, the share closed at Rs 85.55, with volumes of 6,35,99,473 shares. It touched an intraday high of Rs 94.25 and low of Rs 84.

In the F&O segment, the stock recorded turnover of Rs 346 crore for March.

The company is close to signing a USD 500 million IT deal with IBM - Mint.

Idea Cellular added 5.68 lakh GSM users in February versus 6.29 lakh in January.

The company entered capital market with an initial public offering, IPO, aggregating Rs 21,250 million, of equity shares of Rs 10 each and its issue oversubscribed 49.51 times.