Spice communications to enter capital market

Mumbai, May 24 (UNI) Cellular operator, Spice Communication Limited has received SEBI's nod to raise initial public offering of 137,985,000 equity shares through hundred percent book building route.

Telekom Malaysia Behard has 49 percent in spice communications.The remaining 51 per cent is with Modi Wellvest Private Limited (MWPL) which is the promoter of the company.

The company commenced its operations in 1997 as a cellular service provider and is the six largest cellular operator in India and has presence in states of Punjab and Karnataka.

The company is planning to expand its operations in other states also in the near future.

UNI