The Aditya Birla Group-owned Idea Cellular is reportedly planning to offload 33.3 per cent stake to a group of investors. Although the plans have not been officially announced, industry sources claim that the deal will be sealed mid-June and the price per share will be around Rs 40. This is the price that the Birlas paid to their former joint venture partner, Tata, to purchase its shares in the company.
Private equity investors such as Blackstone, Carlyle and Infrastructure Development Finance Company may be among the group of investors. Khazanah Nasional Bhd, Malaysia’s state investment firm, is also believed to be interested.
