The Aditya Birla Group-owned Idea Cellular is planning to offload a 33.3 per cent stake to a group of investors.
Although the plans have not been officially announced, industry sources believe the deal will be sealed in mid-June with a per share price of about Rs 40. This is the price 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 reportedly interested.
