your password has been reset successfully, Please login again.

Airtel in talks to sell 3.7% in Bharti Infratel for Rs 2,500 crore

Airtel is planning to sell 3.7% stake in Bharti Infratel for Rs 2500 crore
BY BEx Bureau
BusinessEx
Aug 08, 2017

Bharti Airtel is in discussions to divest its 3.7% for an estimated amount of Rs 2,500 in Bharti Infratel.

This is not the first time that Bharti Airtel telecom major is selling its own stake, in March the company also diluted its 11.3% stakeholding for Rs 6,806 crore amount in Bharti Infratel for its subsidiary Nettle Infrastructure.

Airtel is in process of offloading a 3.7 per cent stake in Bharti Infratel held through Nettle Infrastructure. The expected amount is Rs 2,550 crore. It will help the company lower its debt, the source aware about the development said.

Total net debt of the company in the first quarter was Rs 87,840 crore. Bharti Airtel and Nettle mutually cling to 61.65% stake in Bharti Infratel.

There was a decline of 2% than the previous close of shares of Bharti Infratel. The closing price is Rs 397.9 per share on BSE.

Please add your Comment
SIMILAR News
December 08, 2017
The Label Life raises $20 crore funding from Centrum Group’s PE Fund and Kalpavriksh. ...More
By Akshay Arora
December 08, 2017
Emami buys 30 per cent stakes in The Man Company for undisclosed amount. ...More
By Akshay Arora
December 07, 2017
POS solutions provider Mswipe raises $10 million funding in Series D round led by B Capital Group an ...More
By Akshay Arora
December 07, 2017
Expense management startup Happay backed by SEquia Capital, other investors with a funding of Rs 65. ...More
By Akshay Arora
December 06, 2017
Personalised task management startup Dunzo raised 412 million funding from Google under Next Billion ...More
By Akshay Arora
December 06, 2017
Flintobox which delivers child lerning kit has raised $7 million funding from venture capital firm L ...More
By Akshay Arora
December 05, 2017
Furniture and home appliances renting startup Rentickle secures $4 million funding from VC firms and ...More
By Akshay Arora
December 05, 2017
Bagalore-based home rental startup raises $50 million funding from UC-RNT Fund. ...More
By Akshay Arora
December 03, 2017
AEON Learning acquires edtech firm Acadgild for $1o million in an all stock deal. ...More
By Akshay Arora
November 30, 2017
Cisco Chairman John Chambers backs Uniphore Systems in exchange for 10 per cent stake in the firm. ...More
By Akshay Arora
November 29, 2017
Student accommodation startup Stanza living raises Rs.13cr funding from Matrix Partners and Accel Pa ...More
By Akshay Arora
November 29, 2017
Fitness startup MobieFit raises funding of $1.35 million from Dubai-based venture capitalist NB Vent ...More
By Akshay Arora