Idea mulling IPO, applies for Mumbai licence

After taking full control of its cellular venture, Aditya Birla group company Idea Cellular is mulling an initial public offer besides expanding services with 3 new circles' roll-out in the next 3 months.

"At some point of time the company would go public", Sanjiv Aga, MD of Aditya Birla Nuvo, said here on the sidelines of a cellular function.

However, sources said the company would be assessing the situation on an IPO now and take view accordingly.

Idea Cellular, which is keen to enter the Mumbai circle and for which it has already applied to Department of Telecom for permission, is waiting for the approval.

"The application is still pending with the Government", Aga said. In rest of the country, it is planning to enter into 3 new circles.

"We are rolling out in 3 new circles.. Himachal, Rajasthan and Eastern UP in the next few months..The company will also take a view whether to enter into National Long Distance in the next few months",  Aga said.

The current eight circles are - Haryana, Delhi, UP (W), Gujarat, Maharashtra and Goa (1 circle), MP and Chhattisgarh (1 circle), AP  and Kerala.

The combined holding of Aditya Birla Group companies in Idea stands at 98.3%, which includes Aditya Birla Nuvo with 35.7%, Birla TMT Holdings 44.9%, Grasim Industries 7.6% and Hindalco Industries 10.1%.