Bharti Airtel on Wednesday claimed it will purchase 20 per cent stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about Rs 3,126 crore.
In December 2017, a Warburg Pincus affiliate, agreed to purchase 20 per cent equity stake in Bharti Telemedia Minimal, the DTH arm of Airtel.
The transaction will be accomplished by using issuance of 36.47 million equity shares of Airtel at a cost of Rs 600 per share and up to Rs 1037.eight crore in cash.
The issuance of shares proposed through preferential allotment is subject matter to shareholders’ approval.
“The proposed transaction is section of company’s method to align the shareholding of its shopper facing merchandise, solutions and organizations less than the exact holding team,”Airtel claimed in a inventory exchange submitting.
“A total handle and ownership about Bharti Telemedia lets Airtel to offer differentiated and converged options to customersso as to