Bharti Airtel inches up on inking pact to acquire 12.07% stake in Egan Solar Power
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Bharti Airtel is currently trading at Rs. 839.40, up by 0.70 points or 0.08% from its previous closing of Rs. 838.70 on the BSE.
The scrip opened at Rs. 838.95 and has touched a high and low of Rs. 842.40 and Rs. 834.80 respectively. So far 17729 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 888.75 on 31-May-2023 and a 52 week low of Rs. 628.75 on 14-Jul-2022.
Last one week high and low of the scrip stood at Rs. 842.40 and Rs. 821.00 respectively. The current market cap of the company is Rs. 502263.35 crore.
The promoters holding in the company stood at 55.02%, while Institutions and Non-Institutions held 40.88% and 4.09% respectively.
Bharti Airtel has entered into an agreement for acquisition of 283,400 (12.07%) equity shares in Egan Solar Power, a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws.
The completion of the acquisition is subject to the receipt of all consents, permissions required to be obtained by Egan Solar from regulatory authority for open access for captive consumption of electricity. Cost of acquisition is Rs 1.33 crore in aggregate for acquisition of 283,400 equity shares of Rs 10 each at a securities premium of Rs 37.20 each.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
