Idea Cellular, one of the leading telecom operators and a part of the Aditya Birla group, announced that the securities allotment committee of the board of directors of the company has decided to close the qualified institutions placement issue.

The committee also approved the issuance of 223,880,597 equity shares of face value of Rs 10 each to qualified institutional buyers (the 'QIBs') at an issue price of Rs 134 a equity share, including a premium of Rs 124 a equity share, aggregating approximately to Rs 30,000 million.

The issue had opened on Jun. 5, 2014.

Shares of the company declined Rs 1.2, or 0.82%, to trade at Rs 145.25. The total volume of shares traded was 268,254 at the BSE (9.32 a.m., Tuesday).