The Securities and Exchange Board of India (Sebi) has sought an explanation from the Aditya Birla Group-promoted Idea Cellular over its proposed merger with Vodafone Plc’s Indian arm. According to sources familiar with the development, the regulator has asked Idea to share details of the methodology through which the share price for acquisition was arrived at and whether such price discovery was in line with the listing regulations.

The Securities and Exchange Board of India (Sebi) has sought an explanation from the Aditya Birla Group-promoted Idea Cellular over its proposed merger with Vodafone Plc’s Indian arm. According to sources familiar with the development, the regulator has asked Idea to share details of the methodology through which the share price for acquisition was arrived at and whether such price discovery was in line with the listing regulations.