Bharti Airtel gains on acquiring additional stake in Indus Towers
Bharti Airtel is currently trading at Rs. 790.80, up by 1.40 points or 0.18% from its previous closing of Rs. 789.40 on the BSE.
The scrip opened at Rs. 791.40 and has touched a high and low of Rs. 795.45 and Rs. 788.85 respectively. So far 32954 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 877.10 on 25-Nov-2022 and a 52 week low of Rs. 629.05 on 14-Jul-2022.
Last one week high and low of the scrip stood at Rs. 795.45 and Rs. 756.05 respectively. The current market cap of the company is Rs. 471783.50 crore.
The promoters holding in the company stood at 55.12%, while Institutions and Non-Institutions held 40.83% and 4.04% respectively.
Bharti Airtel has increased its direct stake in Indus Towers by acquiring 23.01 per cent shares held by its completely owned subsidiary Nettle Infrastructure. Bharti Airtel now holds 47.95 per cent stake in Indus Towers. The company earlier directly held 24.94 per cent stake and 23.01 per cent through its subsidiary Nettle Infrastructure.
This is pursuant to the composite scheme of amalgamation approved by the Hon'ble National Company Law Tribunal, Chandigarh bench, vide its order dated January 25, 2023 and becoming effective from February 1, 2023.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.