Bharti Airtel Investment: Nettle Infra Buys 4.94% Stake In Bharti Infratel For Rs 2,882 Crore

With this announcement, Bharti Airtel's total direct and indirect stake in its mobile tower arm Infratel will witness a 41.66 per cent rise, as per the company's regulatory filing.

(File Photo/ Getty)

Bharti Airtel Investment: Bharti Airtel has acquired an additional 4.94 per cent stake in Bharti Infratel for Rs 2,882.32 crore through its wholly owned subsidiary Nettle Infrastructure Investments on Wednesday.  What’s the increase in stake? With this announcement, Bharti Airtel's total direct and indirect stake in its mobile tower arm Infratel will witness a 41.66 per cent rise, as per Bharti Airtel’s regulatory filing. Before the acquisition, Bharti Airtel and Nettle held 23.04 and 13.69 per cent stake, respectively in Infratel. Nettle has acquired an additional equity stake of approximatetly 4.94 per cent (13.3 crore shares) in Infratel. Accordingly, its equity stake has increased to 18.62 per cent in Infratel. Bharti Airtel’s shareholding includes the 13.69 per cent stake of its subsidary Nettle Infrastructure, which has, in turn, acquired the additional equity in Bharti Infratel. Check the investment details Bharti Infratel had merged with the country's largest standalone mobile tower company Indus Tower. Earlier on November 20, Vodafone Idea and Bharti Infratel announced the completion of the merger process. Vodafone Group holds around 28.12 per cent stake in the merged entity. Meanwhile in a separate transaction, P 5 Asia Holding Investments Mauritius sold 6.65 crore scrips of Bharti Infratel at Rs 215.5 per share, as per the block deal data on BSE. On the other hand in two separate transactions on NSE, Edgepoint Global Portfolio and Edgepoint Global Growth & Income Portfolio offloaded total 4.93 crore scrips of Bharti Infratel at an average price of Rs 215.59 per share. Both Edgepoint Global Portfolio and Edgepoint Global Growth & Income Portfolio held 3.11 per cent and 1.77 per cent stake, respectively, in Bharti Infratel as public shareholders. On November 20, Vodafone Idea and Bharti Infratel announced the completion of the merger process.  This merged entity led to the creation of a mega tower company.