Telecom operator Bharti Airtel has transferred additional 16.76 percent 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 monetize stake in Bharti Infratel.
Airtel holds 53.51 percent stake in Bharti Infratel.
Bharti Airtel transferred 8.65 percent stake in Bharti Infratel on Monday and another 8.11 percent 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 percent from 3.18 percent earlier.―Money Control