Bharti Air­tel off­loads stake in Bharti In­fratel for Rs3,325 crore

Mint ST - - CORPORATE -

New Delhi: Bharti Air­tel Ltd on Tues­day said it has off­loaded 83 mil­lion shares of its sub­sidiary Bharti In­fratel Ltd for Rs3,325 crore through sec­ondary share sale in the stock mar­ket. Bharti Air­tel, In­dia’s largest tele­com op­er­a­tor, will pri­mar­ily use the pro­ceeds from this sale to pare its debt, a com­pany state­ment said. Air­tel’s con­sol­i­dated debt stood at Rs91,480 crore as on Septem­ber 2017. Post the trans­ac­tion, Bharti Air­tel and its wholly-owned sub­sidiaries to­gether have an eq­uity hold­ing of 53.51% in tower com­pany Bharti In­fratel, the state­ment added. PTI

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.