Bharti Airtel sells 32% stake in Bharti Infratel
Major telecom service provider Bharti Airtel is going to sell 32% stake (59.18 million shares) of Bharti Infratel.
With this deal, Bharti Airtel can raise around Rs 15,500 crore. Significantly, Bharti Infratel’s stake sale to Airtel, its subsidiary, Natal Infraco will sell
This proposal has been stamped by the Board of Airtel. But now the company will also get approval for shareholders. On completion of the deal, Bharti Airtel’s stake in Bharti Infratel will fall to 18.33%, while Natal Infra will have 35.18% shares.
At this time, Natal of Bharti Infratel has 3.18% shareholding. On behalf of public or other shareholders, 46.49% shares of Bharti Infratel will remain intact.
Explain that for the last 21 months to reduce its debt, Airtel has raised funds by gradually reducing its stake in its listed tower unit, Bharat Infratel.
On the other hand, Bharti Airtel’s share in the BSE rose sharply today to Rs 324.60 from Rs 316.15 in opening at Rs 319.90, compared to the previous closed level of Rs 324.60. But since 10 pm, it is under pressure.
At around 12.25 pm, the shares of the company are trading at Rs. 315.00 with a weakness of 1.15 rupees or 0.36%. The market capitalization of the company at this price is Rs. 1,26,038.03 crore. At the same time, Bharti Infratel’s stock is down by Rs 6.80, or 2.60%, at the price of Rs 254.95.