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P5 Asia Investments sells over half of its holding in Idea Cellular for Rs 1,383.12 crore

06 Jun 2016 Evaluate

P5 Asia Investments has sold over half of its holding in Idea Cellular for Rs 1,383.12 crore. It has sold 12.5 crore shares from its current holding of 24.5 crore shares at Rs 110.65 a share. Of that, Morgan Stanley bought 6.668 crore shares.

Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.

Peers
Company Name CMP
Bharti Airtel 1835.05
Vodafone Idea 14.25
Indus Towers 377.10
Tata Communications 1795.90
Railtel Corp. India 252.80
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