Quotes with Resistance & Support
Market Information

Spice communications to merge with Idea Cellular

This article was posted on Mar 9, 2010 and is filed under Market News

Idea Cellular Ltd (Idea) together with its associate namely Green Acres Agro Services Pvt Ltd, currently holds 49.90% equity in Spice Communications Ltd (Spice). The other major shareholder in Spice is TMI India Ltd which holds around 49.0% equity. The balance around 1.1% is held by public. This shareholding is post the open offer formalities under the SEBI Takeover Code completed in the month of October, 2008, full disclosures regarding which were made from time to time under various legal requirements to the Exchange.

Through a communication dated June 25, 2008, Spice has, inter alia, communicated to the Exchange that it is proposed to merge Spice with Idea with a swap ratio of 49 shares of Idea for every 100 shares in Spice

Tags: , , ,

Similar Posts:

Breakouts

+ve 30 DMA    50 DMA    150 DMA    200 DMA
-ve 30 DMA    50 DMA    150 DMA    200 DMA

Latest Query

Hi CB Any Scrip for tomorrow intraday ?...view more »
- by Shashank
Status: Awaiting reply

Market Stats

  • Nasdaq
    5305.71
    +48.22
    [+0.92%]
  • Nikkei 225
    16465.40
    -218.53
    [-1.31%]
  • Hang Seng
    23619.65
    +47.75
    [+0.20%]
  • Straits Times
    2858.01
    -2.22
    [-0.08%]
  • FTSE 100
    6869.10
    +61.43
    [+0.90%]
  • CAC 40
    4452.09
    +53.41
    [+1.21%]

Search Our Archives

Latest Investment Idea