Tuesday, May 17, 2022
  • Hyderabad
  • Telangana
  • Andhra Pradesh
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Reviews
    • Education Today
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Airtel To Acquire 20pc Stake In Bharti Telemedia

Airtel to acquire 20pc stake in Bharti Telemedia

By Telangana Today
Published: Published Date - 09:15 PM, Wed - 17 February 21
Representational Image. The proposed transaction is part of Airtel’s strategy to align the shareholding of its customer facing products, services and businesses under the same holding group.

Hyderabad: Bharti Airtel said that it will acquire a Warburg Pincus affiliate’s 20 per cent equity stake in its DTH arm Bharti Telemedia for a total consideration of Rs 3,126 crore, which will be discharged primarily via issuance of about 36.47 million equity shares of Airtel at a price of Rs 600 per share and up to Rs 1,037.8 crore in cash.

The proposed transaction is part of Airtel’s strategy to align the shareholding of its customer facing products, services and businesses under the same holding group. A full control and ownership over Bharti Telemedia allows Airtel to offer differentiated and converged solutions to customers so as to promote “One Home” strategy.

Harjeet Kohli, group director, Bharti Enterprises said, “DTH is an integral part of our Homes strategy and this transaction is another step towards simplifying the shareholding of our customer facing businesses providing structural flexibility and ease of implementation.”

Airtel will issue its shares to the Warburg Pincus affiliate at a premium of about 0.50 per cent to the floor price determined as per regulations. The remaining consideration of Rs 937.8 crore shall be paid in cash on the closing date of the proposed transaction. There may also be minor customary closing adjustments not exceeding Rs 100 crore.

Vishal Mahadevia, MD and head of Warburg Pincus India said, “Airtel was one of the earliest and most profitable investments for Warburg Pincus in India. We are delighted to be back as partners in Bharti Airtel through this transaction. We look forward to capitalising on the broad-based growth that the company is witnessing across its entire portfolio of businesses, including the digital build-outs.”

Citigroup Global Markets India acted as the financial advisor to Airtel and Credit Suisse Securities (India) acted as advisors to Warburg Pincus in connection with this transaction.


Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.

Click to follow Telangana Today Facebook page and Twitter .


  • Follow Us :
  • Tags
  • 20pc stake
  • Airtel
  • Bharti Telemedia
  • Harjeet Kohli

Related News

  • Hyderabad startup Nuronics Labs wins Airtel’s innovation challenge

  • Airtel aims for 20 million subscriptions for Xstream Premium, more content ties

  • Airtel acquires strategic stake in Blockchain-tech startup Aqilliz

  • Jio flirts with Airtel, Vi users on Valentine’s Day inviting them to port to Jio

  • Airtel deploys Oracle Cloud to streamline supply chain

  • Editorial: Confusing signal

Latest News

  • Tomato prices shooting through the roof in Bengaluru

    9 mins ago
  • Mehbooba Mufti blames ‘the Kashmir Files’ for triggering violence in J-K Srinagar

    24 mins ago
  • CBI books Karti Chidambaram over illegal gratification

    21 mins ago
  • Two killed, 22 injured in bus-truck collision in Rajasthan

    39 mins ago
  • IPL 2022: PBKS skipper Mayank feels target against DC was chaseable

    55 mins ago
  • Elon Musk, Parag Agrawal spar on Twitter over fake user accounts

    1 hour ago
  • Thomas Cup: It’s the best feeling in world, says Satwiksairaj

    9 hours ago
  • Opinion: The path for Prashant Kishor

    9 hours ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam