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Bharti Airtel decides against monetizing controlling stake in Bharti Infratel Ltd

Posted On: 2017-03-15 20:01:59

The Board of Directors of Bharti Airtel Ltd ('the Board') had authorized a Committee of Directors ('COD') to evaluate options for monetization of a significant stake in Bharti Infratel Limited ('Infratel'), in accordance with applicable regulations.

The Board has at its meeting held on March 14, 2017, on the recommendation of the COD, decided not to monetize a controlling stake in Infratel for now.

Instead the Board has decided that the Company undertake a sale / transfer of upto 400 million Infratel equity shares owned by the Company which is over and above a controlling stake in Infratel, in such tranche(s), at such time(s) and for such consideration as may be deemed fit to its wholly-owned subsidiary, Nettle Infrastructure Investments Limited (Nettle) and/or to any other potential investor(s) (collectively 'the Transfer(s)').

Shares of BHARTI AIRTEL LTD. was last trading in BSE at Rs.362 as compared to the previous close of Rs. 361.35. The total number of shares traded during the day was 296558 in over 5417 trades.

The stock hit an intraday high of Rs. 365.8 and intraday low of 356.55. The net turnover during the day was Rs. 107243135.

Shares of BHARTI INFRATEL LTD. was last trading in BSE at Rs.310 as compared to the previous close of Rs. 310.3. The total number of shares traded during the day was 242322 in over 3732 trades.

The stock hit an intraday high of Rs. 313 and intraday low of 308. The net turnover during the day was Rs. 75443992.


Source: Equity Bulls

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