EuroPacific Growth Fund has bought over 30.15 million shares of Idea Cellular for Rs 5.34 billion through an open market transaction. The shares were bought on an average price of Rs 178 per share. Earlier in September 2014, EuroPacific Growth Fund had purchased 18.9 million shares of the company.
Meanwhile, First Street Asia Pacific Fund has offloaded 21.3 million shares of Idea Cellular for Rs 3.80 billion.
Idea Cellular is the country?s third largest telecom operator with a market share of 22.30 per cent and 155.4 million subscribers, as of February 2015. The company?s current market valuation stands at Rs 623.13 billion.
