Shares of Bharti Infratel fell by over 6 per cent today amid reports that the US-based private equity fund Kohlberg Kravis Roberts and Co (KKR) is planning to sell stake in the telecom tower firm.
Following the buzz, shares of Bharti Infratel tumbled 5.67 per cent to settle at Rs 292.20 on the BSE. During the day, it lost 6 per cent to Rs 309.75.
At the NSE, the stock was down 6.24 per cent to Rs 293.10 at close of trade.
On the volume front, 3.19 lakh shares of the company changed hands at the BSE, while over 29 lakh shares were traded at the NSE during the day.
As per media reports, American private equity fund Kohlberg Kravis Roberts and Co (KKR) is set to launch a share sale that could raise about USD 230 million as it exits Bharti Infratel six years after investing.
KKR owns 4.5 crore shares, or 2.38 per cent stake in Bharti Infratel, as per the company's shareholding pattern on BSE.
