Idea Cellular, one of the leading telecom operators in India and a part of the Aditya Birla group, witnessed a sharp rise in share price on Wednesday  after reports stated that ATC was close to completing a buyout of the firm's tower business.

ATC's global management is in the country currently to finalise the transaction details, sources informed media. ATC and Idea are keen on closing the deal before the merger with Vodafone is finalized.

Shares of Idea Cellular are trading at Rs 113.40, up Rs 10.35, or 10.04% at the Bombay Stock Exchange (BSE) on Wednesday at 12:10 p.m.

The scrip has touched an intra-day high of Rs 115.50 and low of Rs 103.00. The total volume of shares traded at the BSE is 4,068,774.

Total volume of shares traded on the bourses today was higher by 48.56% to 46,451,604 compared with 22-day average volume of 31,267,696.