Bharti Airtel, a leading global telecommunications services provider with operations in 20 countries across Asia and Africa, has entered into a binding agreement with Qatar Foundation Endowment (QFE), under which Bharti will issue 199,870,006 of its new shares to QFE representing a shareholding of 5% in the company, post issuance of the new shares.
As per the agreement, QFE will subscribe to 199,870,006 new shares of Bharti at a price of Rs 340 per share for a total consideration of $1.26 billion or amounting to Rs 6,796 crore. The investment will further strengthen the capital structure and provide further flexibility for the company to deliver on its growth strategy.
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
