Bharti Telecom, promoter firm of Bharti Airtel, will acquire additional 4.62 percent at market price in the telecom major. Bharti Telecom will acquire 184,710,183 equity shares of Bharti Airtel from another promoter firm of the telecom major, Indian Continent Investment Limited (ICIL), at a price of Rs 417.35 per share derived with weighted average market price of 60 days trading period.
With this transaction, Bharti Telecom’s stake in the company will increase 50.1 percent in Bharti Airtel from 45.48 percent and ICIL’s stake will come down to 2.03 percent. The acquirer confirms that the acquisition price would not be higher by more than 25 percent of the price computed in point 6 (which is Rs 417.35 a unit). This implies transaction in the books of Bharti Telecom and ICIL will be to the tune of around Rs 7700–9600 crore.