Bharti Airtel raises Rs.2,100 crore from share sale
Bharti Airtel Thursday raised approximately Rs.2,100 crore (about USD 350 million) from a share sale in Bharti Infratel to comply with a rule that necessitates listed companies to have a minimum 25 percent public shareholding, a company statement said here.
With the Offer for Sale, Bharti Airtel's equity holding in Bharti Infratel has come down to 74.86 percent, well ahead of the December 2015 timeline to comply with the Securities and Exchange Board of India's minimum public shareholding norm of 25 percent, it said.
Bharti Airtel was selling up to 85 million shares through the Bombay Stock Exchange and the National Stock Exchange.
(Posted on 08-08-2014)