Bharti Telecom sells 2.75% stake in Airtel for Rs 8,433 crore to institutional investors
Shortpedia
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Promoter firm Bharti Telecom has sold 2.75% stake in Airtel to institutional investors in the secondary market, raising over Rs 8,433 crore, the company said on Tuesday. The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding company a 'debt free company', it said. Bharti Group and Singtel will continue to hold a majority stake in Bharti Airtel at 56.23%, it added.
