Bharti Airtel has entered into an agreement for acquisition of 7.04% equity stake in Avaada KNShorapur, a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws. Cost of acquisition is around Rs 1.75 crore in aggregate for acquisition of aggregate 17,42,650 equity shares of Rs 10 each.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
