Idea Cellular lost 1.05% to Rs 165.50 at 14:23 IST on BSE after the US-based private equity firm Providence Equity Partners sold 2.36% stake in the telecom stock on Thursday, 4 September 2014.
Meanwhile, the S&P BSE Sensex was down 48.47 points or 0.18% at 27,037.46
On BSE, so far 2.81 lakh shares were traded in the counter as against average daily volume of 23.61 lakh shares in the past one quarter.
The stock hit a high of Rs 168.80 and a low of Rs 164.80 so far during the day. The stock hit a record high of Rs 188.35 on 15 October 2013. The stock hit a 52-week low of Rs 125.10 on 28 February 2014.
The large-cap company has equity capital of Rs 3596.44 crore. Face value per share is Rs 10.
US-based private equity (PE) firm Providence Equity Partners through its investment arm P5 Asia Investment (Mauritius) sold 8.50 crore shares of Idea Cellular at Rs 166.35 per share in a bulk deal on BSE on Thursday, 4 September 2014. Europacific Growth Fund purchased 1.89 crore shares of Idea Cellular at Rs 166.30 per share and Capital World Growth and Income Fund purchased 1.80 crore shares of Idea Cellular at Rs 166.30 per share. The Idea Cellular stock had dropped 2.96% to settle at Rs 167.25 on Thursday, 4 September 2014.
As at end of 30 June 2014, Providence Equity Partners held 33 crore shares or 9.31% stake in Idea Cellular through P5 Asia Investments (Mauritius).
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Idea Cellular's consolidated net profit surged 57.4% to Rs 728.20 crore on 15.6% growth in total income to Rs 7560.99 crore in Q1 June 2014 over Q1 June 2013.
Idea Cellular is the third largest wireless operator in India. It is part of Aditya Birla Group.
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