Sanjeev Aga sells 5,000 shares in Idea Cellular for Rs 8.81 lakh

NEW DELHI: Idea Cellular said one of its directors Sanjeev Aga has sold 5,000 shares in the company for Rs 8.81 lakh through market sale.

Aga holds 1.05 lakh shares comprising 0.003 per cent of the total share capital of the company, of which he sold 5,000 shares on November 29, the company said in a filing to the BSE.

The share sale took place on NSE and the company was intimated about it on December 3, 2013, the filing added.

Credited with launching Idea Cellular, Aga relinquished his position as the Managing Director of the company with effect from April 1, 2011. He continues as a director on the board of the company.

Himanshu Kapania took over as Managing Director replacing Aga.

Aga was appointed Managing Director of Idea Cellular for a period of five years effective from November 1, 2006.

The shares of the company closed at Rs 177.50 apiece, up 0.88 per cent from their previous close on BSE.