Thursday 01 September 2016
facebook.com/Outlookindia twitter.com/outlookindia digimag.outlookindia.com instagram.com/outlookindia youtube.com/user/OutlookMagazine

Airtel to Sell Up to 8.5 Cr Infratel Shares on Bourses Tomorrow

New Delhi

Bharti Airtel plans to raise at least Rs 2,125 crore by selling up to 8.5 crore shares in its tower business unit Bharti Infratel via stock exchanges at a floor price of Rs 250 per share tomorrow.

In a late night communication to the stock exchanges, Bharti Airtel today said up to 45,000,000 equity shares of Rs 10 each of Bharti Infratel would be sold on August 7 "through a sale on the separate window provided by BSE and NSE."

It also announced the floor price at Rs 250 per share, a 7.7 per cent discount to its last traded price.

In addition to these shares, Bharti Airtel may also sell up to 4 crore equity shares in the offer. The additional shares, if sold, would net another Rs 1,000 crore, taking the minimum fund-raising to Rs 2,125 crore.

The sale process would start at 9.15 AM and close at 3.30 PM on the same day.

The allocation of shares would be on the price priority method. One-fourth of the total offer has been kept reserved for allocation to mutual funds.

Bharti Infratel's shares today closed at Rs 270.90 apiece, down 1.53 per cent over the previous closing in BSE.

Promoters held 65.37 per cent stake in Bharti Infratel at the end of June 30, 2014.

Bharti Infratel is one of the largest tower infrastructure providers in India. The company had raised Rs 3,165.7 crore in 2012 though its initial public offer.

READ MORE IN:
SECTION: Business
OUTLOOK 06 August, 2014
© Copyright PTI. All rights reserved. Republication or redistribution of any PTI content, including by framing or similar means, is expressly prohibited without their prior written consent.
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store

Post a Comment

You are not logged in, please Log in or Register
  • Daily Mail
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS
OUTLOOK ON TWITTER
POLLS

In 1999, India and France entered into a $3.5 billion deal for the supply of these submarines. The first of the 6 subs is out on sea trials for the last three months and is to be commissioned later this year. At this stage, a newspaper in Australia has revealed secret data on the submarines, plausibly stolen from India. Indian Defence authorities have ruled out any pilferage of data from India.

POLL STARTED ON: Aug 26, 2016
Quiz
Brazil’s Rio de Janeiro is hosting the 31st Olympic Games from August 5 to 21. This is the first Olympics being held in South America and is going on even as a majority Brazilians are unhappy with their rulers. Here’s a quiz on some random Olympic facts and related trivia.
QUIZ STARTED ON: Aug 11, 2016
Advertisement