Bharti Telecom buys Airtel shares for Rs.172 crore, hikes stake

Bharti Telecom stake in Bharti Airtel has been now been raised to 43.72%, the company said in a BSE filing 

 

Bharti Telecom bought 13.04 lakh shares for Rs38.18 crore at NSE and 54,000 shares for Rs1.58 crore at BSE on 25 March, thus raising the stake marginally from 43.57% to 43.61%, the filing said. Photo: Mint

New Delhi: Country’s largest telecom operator Bharti Airtel on Friday said one of its promoter group entity Bharti Telecom has bought 57.14 lakh shares of the company for Rs171.92 crore through various market transactions.

Bharti Telecom stake in the company has been now been raised to 43.72%, the company said in a BSE filing.

Bharti Telecom bought 13.04 lakh shares for Rs38.18 crore at NSE and 54,000 shares for Rs1.58 crore at BSE on 25 March, thus raising the stake marginally from 43.57% to 43.61%, the filing said.

Additionally Bharti Telecom purchased 22.71 lakh shares for Rs67.53 crore at NSE and 1.34 lakh shares for Rs3.99 crore at BSE on 26 March, which led its stake to increase to 43.67%.

Besides on 27 March, the promoter group entity bought 17.50 lakh scrips for Rs54.41 crore at NSE and 2 lakh shares for Rs6.2 crore at BSE, further raising the stake to 43.72%, it added.

As on quarter ended December 2013, Bharti Telecom held 43.57% stake in the company. The promoter group had 65.23% in the company at the same period.

Shares of Bharti Airtel on Friday closed at Rs316.55 apiece, up 1.88% on the BSE. 

 

NITESH KUMAR SIONGH

PGDM 2ND

SOURCE-- MINTLIVE NEWS