Birla may offload Idea Cellular stake to financial investors

After acquiring the Tata Group’s 48 per cent stake in Idea Cellular for approximately Rs 44 billion, the Aditya Birla Group reportedly plans to place 33 per cent of the acquisition with financial investors, including private equity players and hedge funds, at Rs 45 per share. Aditya Birla Group companies currently hold 98.3 per cent stake in Idea, of which Aditya Birla Nuvo has 35.7 per cent and Birla TMT Holdings, 44.9 per cent. Idea Cellular is now the third service provider in the country that is wholly owned by Indian investors.