Bharti Airtel will cut its stake to 18.33 percent from current 50.33 percent in the company
Moneycontrol News
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Shares of Bharti Airtel surged 6 percent intraday Tuesday after a news report said the company will slash its stake in Bharti Infratel.
Meanwhile, Bharti Infratel shares slipped over 3 percent intraday.
Bharti Airtel plans to sell up to 32 percent stake in Bharti Infratel to Nettle Infra, according to an exchange filling. Bharti Airtel will cut its stake to 18.33 percent from current 50.33 percent in the company.
Nettle Infra is a wholly-owned subsidiary of Bharti Airtel.
At 11:12 hrs, Bharti Airtel was quoting at Rs 348.85, up 4.54 percent and Bharti Infratel was quoting at Rs 316.30, down 0.96 percent on the BSE.
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Note: This copy was updated to add link to BSE filing.
First Published on Mar 12, 2019 11:13 am
