Idea Cellular, has completed allotment of 33 crore equity shares to the Aditya Birla Group entities, at an issue price of Rs.99.50 per share, aggregating to Rs.3,250 crore.

This fundraising, is a part of company’s plan to raise more than Rs.6,700 crore, which was announced in January, as the company is preparing for the proposed merger with Vodafone India.

Further, post preferential allotment, the aggregate shareholding of the promoter group in the company has increased from 42.4% to 47.2%.

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