Bharti Airtel completes 11.32 per cent stake sale of tower arm to Nettle Infrastructure for Rs 6,806 crore

29 March 2017, 12:33 PM
Bharti Airtel - File Photo
Bharti Airtel - File Photo

Bharti Airtel on Wednesday completed sale of 11.32 per cent stake in its mobile tower arm Bharti Infratel to its wholly-owned subsidiary Nettle Infrastructure for Rs 6,806 crore.

"The company on Wednesday completed an inter-sale transfer of 11.32 per cent stake (2,09,416,643 shares) in Bharti Infratel to Nettle Infrastructure Investments Ltd, a wholly owned subsidiary of the company," Bharti Airtel said in a BSE filing.

The consideration received from stake sale is Rs 6,806 crore.

Post the inter-sale transfer, Bharti Airtel will hold 50.33 per cent while Nettle will hold 11.32 per cent in Bharti Infratel. The remaining 38.35 per cent will be held by public and other shareholders.

Last week, Bharti Infratel had said Nettle Infrastructure Investment will acquire 21.63 per cent in the company from parent Bharti Airtel.
The stock of Bharti Airtel was trading 0.84 per cent higher at Rs 343.50 on the BSE. 

First Published: Wednesday, March 29, 2017 12:23 PM

Related Tags:

For all the latest Business News Download the News Nation App available on Android and iOS.