Idea Cellular plans up to $500 mln share sale on Thursday: Sources

Written by Reuters | Mumbai | Updated: Jun 5 2014, 03:35am hrs
Indian mobile phone operator Idea Cellular Ltd plans to launch a share sale to raise as much as $500 million on Thursday to part fund its capital expenditure including a purchase of mobile radiowaves, three people involved in the deal said.

The Idea share offering is expected to be launched after the local market hours on Thursday, said the people. They declined to be named as they were not authorised to speak about the deal which is not yet public.

An Idea spokesman declined to comment.