Bharti Telecom Increases Stake in Airtel with Rs 11,680 Crore Deal

Bharti Telecom has purchased 1.2% shares of Bharti Airtel from Indian Continent Investment Limited. The transaction, valued at approximately Rs 11,680 crore, increases Bharti Telecom's stake in Airtel to 40.33%. The purchase was an off-market deal, following Telecom's recent Rs 11,150 crore fundraising.

Bharti Telecom, a promoter of Bharti Airtel, has expanded its stake by acquiring an additional 1.2% of the company's shares. The shares were purchased from the Bharti family's investment firm, Indian Continent Investment Limited, through an off-market transaction.

The deal's monetary value was undisclosed in the official filing. However, based on Bharti Airtel's closing share price of Rs 1,598.75 at the Bombay Stock Exchange, the acquisition is estimated to be worth Rs 11,680 crore.

This purchase increases Bharti Telecom's holding in Airtel to 40.33%, whereas Indian Continent Investment Limited retains a 3.31% stake. This move follows Bharti Telecom's recent fundraising of Rs 11,150 crore across six tranches with tenors ranging from three to ten years.

(With inputs from agencies.)