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Bharti Telecom sold 2.75% stake in Airtel, company to be completely debt free

abstract

  • Bharti Telecom has sold 2.75 per cent stake of Airtel to institutional investors.
  • With the sale, Bharti Airtel will become a completely debt-free company
  • Bharti Group and Singtel will continue to hold a majority stake of 56.23 per cent in Bharti Airtel. 

Detailed

Bharti Telecom has sold 2.75 per cent stake in Airtel to institutional investors for Rs 8,433 crore. In this context, the company said that the sale would be fully utilized for the debt repayment of Bharti Telecom.  In addition to this , Bharti Group and Singtel will have such a share, the company said that this will make it a completely debt-free company. According to the statement issued by the company, after this deal, Bharti Group and Singtel will continue to own a majority stake of 56.23 per cent in Bharti Airtel.  Investors from all categories showed interest  Bharti Airtel announced the completion of the Airtel shares, saying that the issue was subscribed manifold and investors from all categories showed interest, including investors from India, Asia, Europe and America. Are included. 


According to the statement, “Bharti Telecom Ltd, the promoter company of Bharti Airtel Limited, has sold 2.75 per cent stake of Bharti Airtel to institutional investors through the book building process in the secondary market.” Bharti Telecom has raised more than Rs 8,433 crore through this sale. 

The credit profile will also improve, the 
company said, with many existing and new shareholders taking part in the stake sale, including global mutual funds, sovereign wealth funds, multi-strategy funds and domestic institutional investors. With this sale, Bharti Airtel will become a completely debt-free company, which will also improve the company’s credit profile.
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