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Published on 5/01/2018 12:49:04 PM | Source: Dion Global Solutions Ltd

Idea Cellular zooms 13% on fund raising plans

Shares of Idea Cellular rallied nearly 13 per cent on the Bombay Stock Exchange after the telecom major said that its board has approved fund raising of up to Rs 3,250 crore through issue of shares to promoter group companies via preferential allotment. Boosted by the development, shares of the company gained as much 12.91 per cent to touch an intra-day high of Rs 118.00 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the firm were trading 10.90 per cent higher at Rs 115.95 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 34,111.10, up 141.46 points, or 0.42 per cent, at 11:28 hours.