As a result of the preferential allotment, the aggregate shareholding of the promoter group in Idea has increased from 42.4 to 47.2 per cent.
Track the latest developments from the Vodafone-Idea merger here.
The merger could signal the beginning of the end of cheap tariffs with fewer players left in the fray.
Vodafone India and Idea Cellular today announced their long-anticipated merger, nearly a month after acknowledging that talks were on to join hands.
Sources have told CNBC-TV18 that marquee investors in Vodafone Plc feel that the company should have an active role in the combined entity and not exit a growth market like India.
The Airtel-Telenor buyout coupled with talks of potential Vodafone-Idea merger and Tata Teleservices with RCom-Airtel-MTS combine raise questions whether a consolidation is the best way for telecom companies in view of Reliance Jio's entry.
In yet another consolidation in telecom industry, India‘s largest telecom operator Bharti Airtel informed the bourses on Thursday that it will acquire Telenor India assets. The move comes at a time when new entrant Reliance Jio has acquired 100 million users and the market is awaiting response on a potential Vodafone-Idea merger.
In what will create India's largest telecom company with revenues of over Rs 80,000 crore, Vodafone on Monday said that it is in exploratory discussions with the Aditya Birla group's telecom arm Idea Cellular for a merger.