Bharti Airtel Ltd.

Singapore Telecommunications (Singtel), Asia’s leading communications and ICT solutions group and a long term partner of Bharti Airtel, will invest Rs 2,649 crore in Bharti Telecom, the promoter company of Bharti Airtel through preferential allotment of shares. The transaction is subject to the shareholders’ approval of Bharti Telecom. The funds raised will be used towards debt reduction.

With this investment, Singtel’s total stake (along with its affiliates) in Bharti Telecom will increase to 48.90%. Singtel currently holds 47.17% stake in Bharti Telecom. Bharti Enterprises continues to hold over 50% stake in Bharti Telecom.

The fresh round of investment highlights the confidence of Singtel in Airtel, and the increased attractiveness of the Indian telecoms sector following the recent consolidation. The investment comes within 23 months of Singtel’s participation in Bharti Telecom’s Right Issue of Rs 2,500 crore, which was completed in February 2016.

Bharti Airtel is a leading global telecommunications company with operations in 16 countries across Asia and Africa.