 Aditya Birla group company, Idea Cellular Ltd today sold, 16% of its stake at $400 Million to Providence. This deal values Idea Cellular Limited at $2.5 Billion. Earlier this year in April, Tata's exited Idea Cellular when the company was valued at $2.0 Billion. In July, Idea Celular announced that it would invest $400 million or Rs2,500 crores to expand in various circles in India to get a PAN India footprint.
Finally, in October, they have raised the money required for expansion. Idea has a 10.87% market share amongst GSM service providers.
Technorati: Mobile India , Idea cellular , India Telecom , Private Equity India
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