Bharti Telecom, promoter firm of Bharti Airtel, will acquire additional 4.62% at market price in the telecom major on or after November 3.
Bharti Telecom will acquire 184,710,183 equity shares of Bharti Airtel from another promoter firm of the telecom major, Indian Continent Investment (ICIL), at price of Rs 417.35 per share derived with weighted average market price of 60 days trading period.
Consequently, Bharti Telecom stake in the company will increase to 50.1% in Bharti Airtel from 45.48% and ICIL stake will come down to 2.03%.
Bharti Airtel is a leading integrated telecommunications company with operations in 18 countries across Asia and Africa.
