Idea Cellular dips after block deals
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Idea Cellular has dipped 9% to Rs 108 on the National Stock Exchange (NSE) after more than 3% of total equity worth of around Rs 1,400 crore of telecom services company changed hands via multiple block deals.
At 09:15 AM, about 133.27 million shares representing 3.7% of equity of Idea Cellular changed hands, the NSE data shows.
The name of the buyers and sellers are not immediately known.
As of March 2016, P5 Asia Investments (Mauritius) Limited, which held 6.8% or 245 million shares in Idea Cellular, the shareholding pattern data shows.
At 09:34 AM, the stock was down 8% to Rs 109 on the NSE. A combined 170 million shares changed hands on the counter on the NSE and BSE so far.
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