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
22 January, 2018 05:55 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
Reliance Q3 profit up 25.5%; GRM at USD 11.6/bbl - 19-Jan-2018 18:34
HDFC Bank Q3 net grows 20% to Rs 41.51 bn - 19-Jan-2018 18:07
Wipro Q3 earnings fall 12% q-o-q to Rs 19.3 bn - 19-Jan-2018 17:56
Lupin launches generic Vibra-Tabs tablet in US - 19-Jan-2018 15:56
HCL Tech Q3 profit jumps 6% to Rs 21.94 bn - 19-Jan-2018 11:45
Suven Life Sciences secures 2 overseas product patents - 18-Jan-2018 15:26
Yes Bank Q3 profit rises 22% to Rs 10.76 bn - 18-Jan-2018 15:24
Sanghvi Forging & Engg bags new orders worth Rs 110 mn - 18-Jan-2018 10:17
Tata Consultancy Services expands partnership with Shure Inc - 18-Jan-2018 10:13
L&T Technology Services bags USD 50 mn avionics contract - 18-Jan-2018 10:07
Dilip Buildcon wins NHAI road project worth Rs 7.30 bn - 18-Jan-2018 10:01
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