VODAFONE IDEA Share price

OUR HISTORY AND CORPORATE STRUCTUREWe were incorporated as Birla Communications Limited on March 14 1995 and granted a certificate of commencement of business on August 11 1995. Our registered office was in Mumbai Maharashtra. Our name was changed to Birla AT&T Communications Limited on May 30 1996 following the execution of a joint venture agreement dated December 5 1995 between AT&T Corporation and Grasim Industries Limited pursuant to which the Aditya Birla Group held 51% of our Equity Share capital and AWS Group held 49% of our Equity Share capital. Our registered office was transferred from Industry House 1st Floor 159 Church Gate Reclamation Mumbai 400 020 Maharashtra to Suman Tower Plot No. 18 Sector 11Gandhinagar 382011 Gujarat on October 22 1996. With effect from January 1 2001 following our merger with Tata Cellular Limited the joint venture agreement between AT&T Corporation and Grasim IndustriesLimited dated December 5 1995 was replaced by a shareholders agreement dated December 15 2000 entered into between Grasim Industries Limited on behalf of the Aditya Birla Group Tata Industries Limited on behalf of the Tata Group and AT&T Wireless Services Inc. on behalf of the AWS Group following which our name was changed to Birla Tata AT&T Limited on November 6 2001. Consequent to the introduction of the ?Idea? brand our name was changed to Idea Cellular Limited on May 1 2002. The AWS Group exited from the Company on September 28 2005 by selling 371780740 Equity Shares of theCompany which constituted 50% of the holding of AT&T Cellular Private Limited in our equity share capital to ABNL and by transferring the remaining 371780750 Equity Shares to Tata Industries Limited. The Tata Group ceased to be a shareholder of the Company on June 20 2006 when Tata Industries Limitedand Apex Investments (Mauritius) Holding Private Limited (formerly known as AT&T Cellular Private Limited) sold all their shares in the Company to the Aditya Birla Group.On October 26 2006 P5 Asia Investments (Mauritius) Limited (?P5 Asia?) acquired 14.60% of our Equity Share capital. Under a Governance and Exit Rights Agreement dated October 23 2006 between P5 Asia ABNL and Birla TMT so long as an initial public offering has not occurred and P5 Asia holds no less than 10% of our Equity Shares ABNL and Birla TMT are required to procure that (a) our Company and its Subsidiaries shall not take or pursue any of the following actions without P5 Asia?s prior consent (such consent to be obtained in a board and/or shareholders resolution) including in respect of (i) any merger with acquisition of or amalgamation or consolidation with another company or business; (ii) assuming orpermitting to exist any borrowings or indebtedness in the nature of borrowings if the amount of all such borrowings of our Company and its Subsidiaries would exceed Rs. 6800 million; (iii) entering into a new line of business; (iv) increasing our authorized or issued share capital; or (v) entering into a joint venture and (b) our Company makes available to P5 Asia certain financial information relating to our Company and its Subsidiaries such as monthly management accounts quarterly unconsolidated balance sheet and profit and loss account and the annual audited consolidated balance sheets and profit and loss accounts.P5 Asia also has a right to appoint one director to our Board so long as it holds at least 10% of our total issued and outstanding Equity Shares. Mr. Biswajit Subramanian has been appointed to our Board by P5 Asia pursuant to the exercise of the above right. In addition any IPO of our Equity Shares requires P5 Asia?s written consent and further in any such IPO P5 Asia has the right to offer for sale such number of Equity Shares representing up to 10% of the total Equity Shares which are held by it. By its letters dated December 2 2006 to ABNL and Birla TMT P5 Asia has given its written consent for the Issue and has confirmed that it does not intend to offer for sale any of the Equity Shares held by it in such Issue.We either directly or through our Subsidiaries provide mobile services in the Andhra Pradesh Delhi Gujarat Haryana Kerala Madhiya Pradesh Maharashtra and Uttar Pradesh (West) Circles and have recently launched services and as such are in the process of fully rolling-out our network in the Uttar Pradesh (East) Rajasthan and Himachal Pradesh Circles pursuant to licenses issued by the DoT.The chronology of key events of the Company from incorporation is set out below:Calendar year Events1995 ? Incorporated as Birla Communications Limited ? Obtained licenses for providing GSM-based services in the Gujarat and Maharashtra Circles following the original GSM license bidding process1996 ? Changed name to Birla AT&T Communications Limited following joint venture between Grasim Industries and AT&T Corporation1997 ? Commenced operations in the Gujarat and Maharashtra Circles1999 ? Migrated to revenues share license fee regime under New Telecommunications Policy (?NTP?)2000 ? Merged with Tata Cellular Limited thereby acquiring original license for the Andhra Pradesh Circle2001 ? Acquired RPG Cellular Limited and consequently the license for the Madhya Pradesh (including Chattisgarh) Circle ? Changed name to Birla Tata AT&T Limited2001 ? Obtained license for providing GSM-based services in the Delhi Circle following the fourth operator GSM license bidding process2002 ? Changed name to Idea Cellular Limited and launched ?Idea? brand name ? Commenced commercial operations in Delhi Circle ? Reached the one million subscriber mark2003 ? Reached the two million subscriber mark2004 ? Completed debt restructuring for the then existing debt facilities and additional funding for the Delhi Circle. ? Acquired Escotel Mobile Communications Limited (subsequently renamed as Idea Mobile Communications Limited) ? Reached the four million subscriber mark ? First operator in India to commercially launch EDGE services2005 ? Reached the five million subscriber mark ? Turned profit positive ? Won an award for the ?Bill Flash? service at the GSM Association Awards in Barcelona Spain ? Sponsored the International Indian Film Academy Awards2006 ? Became part of the Aditya Birla Group subsequent to the TATA Group transferring its entire shareholding in the Company to the Aditya Birla Group ? Acquired Escorts Telecommunications Limited (subsequently renamed as Idea Telecommunications Limited) ? Restructuring of debt ? Launch of the New Circles ? Reached the 10 million subscriber mark ? Received Letter of Intent from the DoT for a new UAS License for the Mumbai Circle. ? Received Letter of Intent from the DoT for a new UAS License for the Bihar Circle through Aditya Birla Telecom Limited. ABNL the parent of Aditya Birla Telecom Limited pursuant to a letter dated November 22 2006 agreed to transfer its entire shareholding in Aditya Birla Telecom Limited to the Company for the consideration of Rs. 100 million.We are part of the Aditya Birla Group and all our Promoters are companies belonging to the Aditya Birla Group.