Idea Cellular completed the allotment of 326.6 million equity shares on a preferential basis to the promoter group entities of Aditya Birla Group.
The shares amounted to ₹32 billion (US$499 million) at an issue price of ₹99 per share. The preferential allotment of shares (PAS) increased the shareholding of the promoters to 47.2% from 42.4%. It was approved by Idea’s shareholders in an extraordinary general meeting on 30 January.
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