Corporate
TT Correspondent | 20 Mar 2019Telecom operator Bharti Airtel has transferred additional 16.76 per cent stake, worth Rs 10,000 crore, it holds in telecom tower arm Bharti Infratel to Nettle Infrastructure Investments Ltd in two tranches, according to a regulatory filing. The Sunil Bharti Mittal-led telecom services firm had earlier said it is parking its stake in Nettle Infrastructure, a wholly owned subsidiary of the company, as it plans to monetise stake in Bharti Infratel.
Airtel holds 53.51 per cent stake in Bharti Infratel.
Bharti Airtel transferred 8.65 per cent stake in Bharti Infratel on Monday and another 8.11 per cent on Tuesday to Nettle Infrastructure. The value of these shares at the BSE closing rate of Rs 326.9 apiece amounts to over Rs 10,133 crore.
With the fresh transaction, Bharti Airtel's stake parked with Nettle Infrastructure has now increased to 19.94 per cent from 3.18 per cent earlier.