Idea fixes Rs 82.50/share to raise Rs 3,500 crore

New Delhi: Idea Cellular on Wednesday said its capital raising committee has approved an issue price of Rs 82.50 per share for sale of shares through a qualified institutional placement (QIP) to raise as much as Rs 3,500 crore. The committee “determined and approved the issue price of Rs 82.50 per equity shares (including a premium of Rs 72.50 per equity share) for issuance of 42.42 crore equity shares, aggregating to Rs 3,500 crore, to the eligible qualified institutional buyers in the QIP,” it said. PTI

BSE gets approval to launch cross-currency derivatives

Mumbai: The BSE on Wednesday said regulator SEBI has given approval to the stock exchange to launch cross-currency derivatives and has also allowed trading in such contracts for a longer period between 9:00 am and 7:30 pm. The exchange will introduce cross-currency derivatives (future and options) on pairs such as Euro (EUR)-US Dollar (USD), Pound Sterling (GBP)-USD and USD-Japanese Yen (JPY), the BSE said in a statement here. PTI