Bharti Infratel gains after KKR, Canada's CPPIB buy stakes in the company

The stock rallied 6.6% to Rs 340 on BSE in intra-day trade

Shares of Bharti Infratel rallied 6.6% to Rs 340 on BSE after a consortium of global private equity firms KKR and Canada Pension Plan Investment Board (CPPIB) bought 10.3% stake in tower infrastructure firm from open market on Tuesday.

“Bharti Airtel, the promoter of Bharti Infratel, had offloaded 190 million equity shares representing a 10.3%, to a consortium of global private equity firms KKR and CPPIB, for a total consideration of over Rs 6,193.90 crore, executed at a price of Rs 325 per share,” Bharti Airtel said in a press release. 

In the investor presentation, Bharti Infratel said that it