Bharti Airtel raises Rs. 1,925 cr by selling stake in Infratel

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SME Times News Bureau | 27 Feb, 2015
Bharti Airtel has raised Rs.1,925 crore (approximately $310 million) by selling 55 million shares in its subsidiary Bharti Infratel Limited in an equity market transaction, a company statement said in New Delhi on Thursday.

Bharti Airtel sold Infratel shares at Rs.350 per share. After the sale, Bharti Airtel holds 71.9 percent in Bharti Infratel.

"Overall demand of $440 million (1.42 times base deal size) across USA, Europe and Asia," the company said in a statement.

"Allocation done to global tower company investors, fund managers and long only funds, including many repeat investors," it added.

It mentioned that Bank of America Merrill Lynch and UBS were brokers to the transaction.