Airtel to acquire 7.48% stake in Sandhya Hydro, HP

Telecom giant Bharti Airtel has entered into an Agreement with Sandhya Hydro Power Project to acquire a 7.48% stake of the latter in terms of the the regulatory requirement for captive power consumption under electricity laws.

As per the regulatory filing, Bharti Airtel will acquire 1,743,560 equity shares or a 7.48% stake in Sandhya Hydro Power.

Sandhya Hydro Power is a special purpose vehicle formed to own and operate the Captive Power Plant.

The transaction is for cash consideration of Rs1.74cr.

At around 1.15 pm, Bharti Airtel was trading at Rs523.80 per piece down by 1.22% on Sensex. India Infoline