Idea Cellular in talks to raise $1 bn From PV Firm

Aditya Birla Group is in talks with private equity firms to raise $1 billion (Rs 6,500 crore) through a stake sale in the promoter entities of telecom operator Idea Cellular Ltd, a financial daily reported.

According to the reports a part of the capital raised will be used to clear the regulatory dues. However, the stake sale will be structured in a way that would maintain the total shareholding of promoter entities in Ideal Cellular at the current levels.

As on 31 March 2018, the promoter group of Idea Cellular held 42.56% in the company, shows stock exchange data.