Bharti Telecom's Strategic Stake Acquisition in Airtel

Bharti Telecom, a promoter of Bharti Airtel, acquired a 1.2% stake in the company from Indian Continent Investment Ltd. The transaction is valued at approximately Rs 11,680 crore. Bharti Telecom now holds 40.33% of Airtel, with Indian Continent Investment Ltd holding 3.31%.

Bharti Telecom, a leading promoter of Bharti Airtel, has successfully acquired an additional 1.2% stake in the telecommunications giant. The shares were purchased from Indian Continent Investment Ltd, a Bharti family investment firm, through an off-market transaction.

While the official filing did not disclose the financial specifics of the transaction, market estimates value the stake at around Rs 11,680 crore, based on the recent closing price of Bharti Airtel's shares at Rs 1,598.75 each on the BSE.

This latest acquisition increases Bharti Telecom's holding in Bharti Airtel to 40.33%, with Indian Continent Investment Ltd retaining a 3.31% stake. Earlier in the week, Bharti Telecom had also raised Rs 11,150 crore across six tranches, with loan tenors ranging between three to ten years.

(With inputs from agencies.)