IDFC Private Equity, the private equity arm of Infrastructure Development Finance Company (IDFC), is believed to be in talks to buy out a stake in Idea Cellular from Birla TMT Holdings. The Birla Group, which is buying out the Tatas in the mobile service company, reportedly wants to offload 33.3 per cent stake. A number of foreign institutional investors (FIIs) specialising in telecom are also in discussions with the Birlas for a pre-IPO placement. Idea is looking at an IPO six to eight months from now. Meanwhile, the Tata Group is transferring shares to the Birlas. The Tatas had sold their stake in Idea to the Birlas after a bitter dispute over their two-company presence in a single circle.
