IDEA completes allotment of 326.63 million equity shares

Idea Cellular has completed the allotment of 326.63 million equity shares to entities of the Aditya Birla Group, at an issue price of Rs 99.50 per share totalling Rs 32.5 billion. Post the preferential allotment, the shareholding of the promoter group in Idea has increased from 42.4 per cent to 47.2 per cent. Further, the company has also issued equity shares amounting to Rs 35 billion priced at Rs 82.50 each via qualified institutional placements to investors in accordance with SEBI guidelines.