Idea Cellular EGM approves preferential issue at Rs 146.96

Idea Cellular Ltd has announced that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on July 30, 2008, inter alia, have overwhelmingly approved the Issue and allotment of 464,734,670 Equity Shares of Rs 10/- each for cash at a price of Rs 146.96 on Preferential basis.The Board also approved the deployment of un-utilized portion of the money raised through Initial Public Offering (IPO) towards purposes in addition to those mentioned in the Prospectus for the IPO.