Idea Cellular on Monday said First State Investment Management (UK) had increased its stake in the telecom services company to over 5%.
First State Investments is a part of the asset management division of the Commonwealth Bank of Australia.
First State Investment Management (UK) on its behalf and First State Investments International has acquired 57 million shares through open market to take its shareholding to 5.02%, Idea Cellular said in a filing to the Bombay Stock Exchange (BSE).
Earlier, the shareholding stood at 3.29%, it added.
Shares of Idea Cellular today closed at Rs 98.25 a piece, up 4.13% from its previous close on the BSE.
Last week, Monet, a part of global investment firm ChrysCapital, had sold over 83.4 million shares in Idea Cellular for Rs 90 apiece-- amounting to over 2% stake -- for about Rs 750 crore.
Also First State Asia Pacific Leader Fund bought about 41 million shares of the telecom company at Rs 90 each, the data showed.
