Bharti Airtel and its subsidiaries now hold 53.51% stake in Bharti Infratel
Bharti Airtel via its wholly owned subsidiary, Nettle Infrastructure Investments announced the successful divestment of 8.3 crore shares of its subsidiary Bharti Infratel through a secondary share sale in the stock market.The sale was for a total consideration of over Rs 3,325 crore (USD 510 Million) and was executed at a price of Rs. 400.6 per share.
Bharti Airtel will primarily use the proceeds from this sale to reduce its debt. Following the closure of this transaction, Bharti Airtel and its wholly owned subsidiaries together have an equity holding of 53.51% in Bharti Infratel.
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