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
19 December, 2018 13:16 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
Sector
Commercial Engineers & Body Builders Company wins order worth Rs 1.52 bn - 19-Dec-2018 10:51
Glenmark Pharmaceuticals forays into branded dermatology segment in U.S. - 19-Dec-2018 10:33
Power Mech Projects wins orders worth Rs 2.45 bn - 18-Dec-2018 10:42
M&M to hike stake in associate company Sampo Rosenlew - 18-Dec-2018 10:37
Glenmark Pharma gets nod for Fluocinolone Acetonide oil - 18-Dec-2018 10:08
BGR Energy Systems bags order worth Rs 494 mn from Tamilnadu Transmission Corp - 18-Dec-2018 10:04
Lupin receives approval from USFDA for Clobazam tablets - 18-Dec-2018 10:01
Ahluwalia Contracts (India) secures new order worth RS 4.25 bn - 17-Dec-2018 15:31
Lupin receives tentative USFDA approval for Tadalafil tablets - 17-Dec-2018 14:49
Gayatri Projects bags new order worth Rs 4.93 bn - 17-Dec-2018 09:43
Zydus Cadila receives USFDA approvals for two drugs - 17-Dec-2018 09:39
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