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ChrysCapital's investment arm sells 2.5% stake in Idea

29 Jul 2011 Evaluate

Idea Cellular, India's fourth-biggest cellular carrier has encountered a block deal on July 28 when Monet, an investment arm of Chryscapital sold its 2.5% stake in the company.  Monet sold 2.5% stake or about 8.35 crore shares of Idea Celluar at Rs 90 a piece in a block deal on the exchange on July 28. The deal is valued at about Rs 751 crore. Monet owned 8.95 crore shares or 2.71% of Idea's total shares, as of end-June.

Recently, Idea Cellular had added 13.50 lakh mobile subscribers in June, data from an industry body showed. Following the said addition, the company’s total subscriber count stood at 9.51 crore. However, Telenor's India unit added 9.40 lakh users, boosting its total to 2.63 crore.

Besides, Bharti Airtel, India’s top mobile carrier had added 21.20 lakh mobile subscribers in June. Following the said addition, the company’s total subscriber count stood at 16.92 crore while Vodafone's India unit, which is the country's third-biggest mobile carrier, signed up 20.90 lakh mobile subscribers in June to have a total of about 14.15 crore, as per the Cellular Operators Association of India.

Vodafone Idea Share Price

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Peers
Company Name CMP
Bharti Airtel 1886.05
Vodafone Idea 10.22
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