Broadband India

ChrisCapital, TA Asso and CitiGroup pick 10% in Idea

Earlier last week we had reported that Providence Equity Partners had picked 16% stake in Aditya Birla Nuvo Limited promoted Idea Cellular Limited. ChrrysCapital, TA Associates Inc and Citigroup Inc together have picked up another 9% diluting Aditya Birla Group’s stake in Idea from 98% to 73%. Other top shareholders in Idea Cellular Limited are:

Aditya Birla Nuvo Limited 35.7 %
Grasim Industries Limited 7.6%
Hindalco Industries Limited 10.1%

Also, Sanjeev Aga will head the Idea cellular as its MD from Nov-1.