Bharti Airtel has acquired 595,204,251 shares, representing around 16.3% stake, of Airtel Africa, from Indian Continent Investment (ICIL). Post this acquisition, the company’s effective stake in Airtel Africa has increased to around 79%.
The acquisition was done through share swap, under which the company has issued its 146,761,335 fully paid-up equity shares of face value of Rs 5 each to ICIL on a preferential basis. Post this swap, ICIL holds around 3.25% of the total post-issue equity share capital of the company.
Further, the paid-up equity share capital of the company stands increased to Rs 31,201,606,575.00 divided into 6,240,043,648 fully paid-up equity shares of Rs 5 each and 1,110,668 partly paid-up equity shares of Rs 5 each (paid-up value Rs 1.25 each).
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
