EuroPacific Growth Fund today picked up over three crore shares of Idea Cellular for Rs 534 crore through an open market transaction.
As per data bulk deal data available with the stock exchanges, the fund has purchased a total of 30,157,849 shares of the telecom player.
The shares were bought on an average price of Rs 178, valuing the transaction at Rs 536.80 crore.
Meanwhile, First Street Asia Pacific Fund has offloaded 2.13 crore shares of Idea Cellular for Rs 380.56 crore.
In September, EuroPacific Growth Fund had purchased 1.89 crore shares of Idea Cellular.
Idea is the country’s third largest telecom operator with 15.54 crore subscribers at the end of February. It has a market share of 22.30 per cent.
The company, part of Aditya Birla Group, has a market value of Rs 62,313 crore.
Idea Cellular stock settled at Rs 173.20, down 4.89 per cent, on the BSE.