Idea Cellular pays $4.8 bn for airwaves, highest in auction

The government expects to receive about 288.72 billion rupees (USD 4.61 billion) in initial payments, which winning bidders have to make by April 4.

Idea Cellular  Ltd, India's third-biggest mobile operator by market share, spent 303.06 billion rupees (USD 4.84 billion) to buy mobile airwaves in the country's spectrum auctions, telecoms minister Ravi Shankar Prasad said on Thursday.

That was the single biggest amount spent. Together with market leaders  Bharti Airtel and Vodafone Group Plc's India unit, the top three players paid 855.75 billion rupees, or about 78 percent of the total airwaves sold, according to figures provided by the minister.

The government expects to receive about 288.72 billion rupees (USD 4.61 billion) in initial payments, which winning bidders have to make by April 4.

India raised a record USD 17.6 billion from the sale of mobile phone airwaves after 19 days of fierce bidding that ended Wednesday.

Idea Cellular stock price

On March 26, 2015, Idea Cellular closed at Rs 180.40, up Rs 7.00, or 4.04 percent. The 52-week high of the share was Rs 184.00 and the 52-week low was Rs 129.20.

The company's trailing 12-month (TTM) EPS was at Rs 6.88 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 26.22. The latest book value of the company is Rs 44.09 per share. At current value, the price-to-book value of the company is 4.09.

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