Aditya Birla Group company Idea Cellular today said it has raised over Rs 7,294.47 crore pursuant to the completion of the allotment of over 46.47 crore equity shares to TMI Mauritius Ltd on preferential basis.

The share issuance committee of the board of directors has completed the allotment of all the 464,734,670 equity shares representing 14.99 per cent at Rs 156.96 each on preferential basis against the receipt of Rs 7,294.47 crore, Idea Cellular said in a regulatory filing to the Bombay Stock Exchange.

The said allotment was pursuant to the stock exchange's in-principle approval for issue of 464,734,670 equity shares of Idea Cellular to TMI Mauritius, the filing added.

The preferential allotment of shares were announced when the fifth largest mobile operator in India in terms of subscribers, acquired B K Modi-owned Spice group's 40.8 per cent stake for Rs 2,716 crore.

In Spice Communications, TMI held 49 per cent which translated into a five per cent corresponding stake in the merged entity. Pursuant to the completion of the preferential offer, the stake of TMI in the merged entity would be 20 per
cent.

Shares of Idea Cellular closed at Rs 87.45, up 0.40 per cent on BSE.