/Tag: Airtel

Bharti Telecom to sell 2.75% stake in Airtel for $1 billion

2020-05-27T03:46:30+00:00May 26th, 2020|India Inc Views - India Global Business, News in Brief|

Airtel’s promoters may sell nearly 15 million shares as part of the block deal. Bharti Telecom, the promoter group of Bharti Airtel, will sell up to 2.75 per cent stake in the telco to raise around $1 billion through a block deal to become a zero-debt company. The company is reportedly selling 150 million Airtel shares at a floor price of $7.37 each. The deal is likely to be at a 6 per cent discount to the company’s stock price. [...]