Bharti Telecom increases stake in Airtel to 50.10%
New Delhi: Bharti Telecom has increased its shareholding in Bharti Airtel to 50.10% by acquiring over 184.7 million shares from Indian Continent Investment Ltd (ICIL).
Bharti Telecom is the promoter of Bharti Airtel, India’s largest telecom services provider.
“...the company has received a communication dated 3 November 2017 from Bharti Telecom, the promoter of the company that it has acquired 184,710,183 equity shares of the company from Indian Continent Investment,” Bharti Airtel said in a BSE filing.
The shares represent 4.62% of the paid-up share capital of the company, it added.
“Consequent to the aforesaid acquisition, the shareholding of Bharti Telecom in the company has increased from 45.48% to 50.10%,” it said.
Bharti Telecom has acquired the shares from ICIL (another promoter firm) at a price of Rs417.35 per share. ICIL’s stake will come down to 2.03%.