Saturday, Jul 04, 2020 | Last Update : 06:24 PM IST

102nd Day Of Lockdown

Maharashtra1929901046878376 Tamil Nadu102721583781385 Delhi94695656242923 Gujarat34686249411905 Uttar Pradesh2579717597749 West Bengal2048813571717 Telangana2046210195283 Karnataka197108807293 Rajasthan1925615352443 Andhra Pradesh176998008218 Haryana1550911019251 Madhya Pradesh1410610815589 Bihar11457848888 Assam9800632814 Jammu and Kashmir76954856105 Odisha7316535333 Punjab56683989149 Kerala4594243626 Chhatisgarh3065241414 Uttarakhand2791190937 Jharkhand2339160512 Tripura140110931 Manipur13166390 Goa11984783 Himachal Pradesh9796179 Puducherry73930112 Nagaland5351820 Chandigarh4593956 Arunachal Pradesh252751 Mizoram1601230 Sikkim101520 Meghalaya50421
  Business   Companies  25 Jun 2018  Idea shares tank over 7 pc; m-cap falls Rs 1,893 cr as mega-merger delays

Idea shares tank over 7 pc; m-cap falls Rs 1,893 cr as mega-merger delays

PTI
Published : Jun 25, 2018, 5:12 pm IST
Updated : Jun 25, 2018, 5:12 pm IST

The mega-merger deal of Idea and Vodafone may not meet the expected June 30 timeline.

Shares of Idea Cellular plunged over 7 per cent on Monday following reports that the mega-merger deal of the company and Vodafone India may not meet the expected June 30 timeline.
 Shares of Idea Cellular plunged over 7 per cent on Monday following reports that the mega-merger deal of the company and Vodafone India may not meet the expected June 30 timeline.

New Delhi: Shares of Idea Cellular plunged over 7 per cent on Monday following reports that the mega-merger deal of the company and Vodafone India may not meet the expected June 30 timeline.

The stock slumped 7.18 per cent to close at Rs 56.20 on BSE. During the day, it tanked 7.67 per cent to Rs 55.90. At NSE, shares of the company dived 7.18 per cent to end at Rs 56.20. The company's market valuation also fell by Rs 1,892.84 crore to Rs 24,502.16 crore.

 

In terms of equity volume, 22.21 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day. The mega-merger deal of Idea and Vodafone may not meet the expected June 30 timeline as the telecom department is looking to raise a fresh demand of around Rs 4,700 crore, a source said.

"Vodafone India had merged its all arms into one company and there are dues of around Rs 4,700 crore related to one-time spectrum charges (OTSC) on the company. DoT will ask Vodafone to either clear the dues or furnish bank guarantee before merger with Idea," an official source told PTI.

Both Idea and Vodafone were expecting the merger deal to create India's largest telecom company to be completed by June 30, 2018.

Tags: idea cellular, vodafone india, market valuation, idea vodafone merger
Location: India, Delhi, New Delhi