New Delhi: Telecom operator Idea Cellular on Monday said it has raised Rs 3,250 crore by allotting over 32.6 crore shares to the promoter group companies. "Idea Cellular Limited on Monday completed the allotment of 326,633,165 equity shares to the Aditya Birla Group entities, at an issue price of Rs 99.50 per share (including premium of Rs 89.50 per share) aggregating to Rs 3,250 crore," Idea said.
The preferential allotment of equity shares follows the approval by the board of Idea on January 4 for a total capital raise of up to Rs 6,750 crore which includes raising of Rs 3,250 crore through a preferential allotment to the Promoter Group. It would raise another Rs 3,500 crore through a further preferential allotment, qualified institutional placement, rights issue or such other route that the company's board determines.
As a result of this preferential allotment, the aggregate shareholding of the promoter group in Idea has increased from 42.4 to 47.2 per cent.