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A no-deal show means the issuer will not give any assurance of the offering to investors. Such road shows are usually followed by more definite programmes to market deals. Idea, owned by billionaire Kumar Mangalam Birla<\/a>, has appointed Bank of America Merrill Lynch, Morgan Stanley, JP Morgan, Citi Bank and Axis Capital to manage the issue.
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\nA spokeswoman for Aditya Birla Group said the company has “no plans for a QIP<\/a> at this moment”.
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\nIdea’s board had last year approved a plan to raise Rs 3,000 crore through a QIP and rights issue.
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