NEW DELHI: Idea Cellular on Monday said that it has allotted 32.66 crore shares to three promoter entities at Rs 99.50 apiece, aggregating Rs 3,250 crore. With this, the aggregate shareholding of the promoter group in Idea increased to 47.2 per cent from 42.4 per cent.

The preferential issue was made at a 15.3 per cent premium to Monday's closing price of Rs 99.50 per share. The issuance was approved via special resolution at an EGM on January 30. Oriana Investments Pte and Elaine Investments Pte were allotted 16.32 crore shares each for Rs 1,623 crore each. Birla TMT Holdings was allotted 2.33 lakh shares for Rs 2.31 crore.

Idea board had earlier approved raising Rs 6,750 crore, including Rs 3,250 crore, through a preferential allotment to the promoters and up to Rs 3,500 crore through a further preferential allotment, qualified institutional placement, rights issue or such other route. This is done with an intention to reduce Idea's net-debt and as a result Vodafone's net-debt contribution to the merged entity will also be reduced by an equivalent amount.

"The recently announced sale of Idea's and Vodafone India's standalone towers to American Tower Corporation for an aggregate enterprise value of Rs 7,850 Crore and the potential monetisation of Idea's 11.15 per cent stake in Indus Towers, will further augment the long term capital resources of the Company. These proceeds will significantly strengthen the balance sheet of the merged entity (Idea and Vodafone India) creating a resilient entity for the future," the company told stock exchanges.