Bharti Airtel allots 199,870,006 Equity Shares on Preferential basis to Qatar Foundation arm

The Committee of Directors of Bharti Airtel Ltd in its meeting held on June 17, 2013, has allotted 199,870,006 equity shares on preferential basis.

The shares were allotted to Three Pillars Pte. Ltd., Singapore (an affiliate of Qatar Foundation Endowment, SPC). The issue price was Rs. 340 per share for the shares having face value of Rs. 5 per share. The total consideration received from this deal was Rs. 67,955,802,040.

Shares of Bharti Airtel Ltd was last trading in BSE at Rs.296.40, up by Rs.7.30 or 2.53%. The stock hit an intraday high of Rs.298.40 and low of Rs.289.55.

The total traded quantity was 1.71 lakhs compared to 2 week average of 2.06 lakhs.

Source : Equity Bulls

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