Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
21 June, 2018 21:44 IST
Bharti Airtel sells stake in Bharti Infratel for Rs 33.25 bn
Source: IRIS | 14 Nov, 2017, 01.43PM
Comments  |  Post Comment

Bharti Airtel via its wholly owned subsidiary, Nettle Infrastructure Investments, today announced the successful divestment of 83 million shares of its subsidiary Bharti Infratel through a secondary share sale in the stock market (NSE, BSE).

The sale was for a total consideration of over Rs 33.25 billion (USD 510 million) and was executed at a price of Rs. 400.6 a share, representing a discount of c. 3.6% to the previous day's closing price. The allocation was done to global investors, fund managers and long only funds, including many repeat investors. Led by healthy investor appetite, the deal was upsized by over 25%.

Bharti Airtel will primarily use the proceeds from this sale to reduce its debt. Following the closure of this transaction, Bharti Airtel and its wholly owned subsidiaries together have an equity holding of 53.51% in Bharti Infratel.

J.P. Morgan, UBS and Goldman Sachs were joint placement agents for the transaction.

Shares of the company declined Rs 4.9, or 0.97%, to trade at Rs 499.00. The total volume of shares traded was 111,070 at the BSE (1.27 p.m., Tuesday).



Bharti Airtel Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Sensex ends 115 points lower; Nifty settles below 10,750-level - 21-Jun-2018 16:13
Sensex, Nifty trade flat; Power Grid Corp, ONGC top losers - 21-Jun-2018 11:42
Dilip Buildcon completes road project in Madhya Pradesh - 20-Jun-2018 16:06
Sensex ends 260 points higher; Nifty settles at 10,772-level - 20-Jun-2018 16:03
BHEL wins Rs 10 bn orders for emission control equipment - 20-Jun-2018 13:38
Tata Comm wins contract from BlaBla Connect - 20-Jun-2018 12:51
Rajesh Bhosale on how to trade in Tata Comm, Piramal Enterprises and Jindal Steel - 20-Jun-2018 11:28
Infosys opens digital center of excellence in France - 20-Jun-2018 10:13
Shreyas Shipping & Logistics takes delivery of vessel 'M.V. SSL Krishna' - 20-Jun-2018 10:09
ABB partners with Cochin Shipyard and Shipping Corporation of India - 20-Jun-2018 09:57
Kansai Nerolac to enter into Bangladesh bv acquiring equity stake in RAK Paints - 20-Jun-2018 09:51
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer