Bharti Airtel to issue 199,870,006 shares to Qatar Foundation Endowment SPC

The Board of Directors of Bharti Airtel Ltd on May 03, 2013 has approved issue and allotment of 199,870,006 Equity Shares of Rs. 5 each to Qatar Foundation Endowment SPC or its affiliate at a price of INR 340 per share on a preferential basis, in accordance with the provisions of the Companies Act, 1956 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The above issue is subject to the approval of the shareholders.

Shares of Bharti Airtel Ltd was last trading in BSE at Rs.317.70, up by Rs.1 or 0.32%. The stock hit an intraday high of Rs.331 and intraday low of Rs.316.10.

The total traded quantity was 7.72 lakhs compared to 2 week average of 4.66 lakhs.

Source : Equity Bulls

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