Technuter
Airtel said that it will acquire a Warburg Pincus affiliate’s 20% equity stake in its DTH arm Bharti Telemedia for a total consideration of ~ INR 31,260 million which will be discharged primarily via issuance of ~36.47 million equity shares of Airtel at a price of INR 600 per share; and up to INR 10,378 million in cash. The issuance of shares proposed through preferential allotment is subject to shareholders’ approval.
The proposed transaction is part of Airtel’s strategy to align the shareholding of its customer facing products, services and businesses under the same holding group. A full control and ownership over Bharti Telemedia allows Airtel to offer differentiated and converged solutions to customers so as to promote “One Home” strategy.
Airtel to acquire 20% stake from Warburg Pincus in its DTH arm for ₹3,126 crore
The proposed transaction is part of Airtel’s strategy to align the shareholding of its customer facing products
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Bharti Airtel on Wednesday said that it will acquire Warburg Pincus affiliate’s 20% equity stake in its DTH arm Bharti Telemedia for ₹3,126 crore. The amount will be discharged primarily via issuance of 36.47 million equity shares of Airtel at a price of ₹600 per share (including a premium of ₹595 per equity share over face value of ₹5 per equity share); and up to ₹1,037.8 crore in cash. The issuance of shares proposed through preferential allotment is subject to shareholders’ approval, the company said in the regulatory filing.