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Airtel completes amalgamation of Nettle Infrastructure, Telesonic Networks

Bharti Airtel has completed the merger of wholly owned subsidiaries Nettle Infrastructure Investments Limited (Nettle), Telesonic Networks Limited (Telesonic).

In a filing to the Bombay Stock Exchange, it said in terms of Regulation 30 of SEBI Listing Regulations, we wish to inform you that upon approval of Hon’ble National Company Law Tribunal, Chandigarh Bench, vide its order (“NCL T order”) received on January 25, 2023 in certified copy, the Composite scheme of arrangement between Nettle Infrastructure Investments Limited (‘Nettle’), Telesonic Networks Limited (‘Telesonic’) and their respective shareholders and Bharti Airtel Limited (‘Company’), under sections 230 to 232 and other applicable provisions of the Companies Act, 2013 for amalgamation of Nettle and Telesonic, wholly-owned subsidiaries with the Company (‘Scheme’), has become effective from Wednesday, February 01, 2023.

The company further said: “Both Nettle and Telesonic stand dissolved and amalgamated with the Company w.e.f. February 01, 2023 and all assets, liabilities, contracts, deeds, bonds and other Instruments etc. of Nettle and Telesonic stand transferred to the Company in accordance with the Scheme. Accordingly, 30,000 Rated, Listed, Unsecured, Guaranteed, Redeemable 5.35% Non-Convertible Debentures of the face value of INR 10,00,000 per Debenture of an aggregate principal amount of INR 3,000 crores (ISIN: INE308O08015) and 17,500, 5.35% Listed Commercial papers of 5,00,000 each (ISIN: INE308O14021) of an aggregate principal amount of INR 875 crores issued by Telesonic, shall also stand transferred in the name of Bharti Airtel Limited subject to completion of necessary corporate actions with depositories and Stock Exchanges.”

“The Authorized Share Capital of the Company is INR 148,730,500,000 (Rupees one hundred and forty eight billion seven hundred thirty million and five hundred thousand) divided into 29,746,080,000 (Twenty-nine billion seven hundred forty-six million and eighty thousand) Equity shares of INR 5 (Rupees Five) each and 1000 (One thousand) Preference shares of INR 100 (Rupees Hundred) each,” the filing added.

CT Bureau

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