After the JIO effect, almost all other cellular networks went down for few times but still, the IDEA cellular raises 3,250 Cr from the promoter group. Now the aggregate shareholding of a promoter group in the IDEA cellular is now 47.2% while previous it was 42.4%. The allocated share is a whopping amount of 32.6 Crore and now it is in the account of promoter group companies.

The IDEA statement “Idea Cellular Limited today completed the allotment of 326,633,165 equity shares to the Aditya Birla Group (ABG) entities, at an issue price of Rs 99.50 per share (including premium of Rs 89.50 per share) aggregating to Rs 3,250 crore,”

This will create an impact on the IDEA cellular investors because now Idea cellular has enough amount to lure customers with attractive offers and might be possible that idea will get a new crowd and earn good amount from them in a short period.

Image Credit: IDEA Cellular