Indian billionaire Sunil Mittal’s Bharti Airtel board approves acquiring stake worth Rs 5000 crore in…

Bharti Airtel led by Indian billionaire Sunil MittalThe board said it has approved the acquisition of an additional 5 percent stake in telecom infrastructure subsidiary Indus Towers, PTI reported. This comes after Bharti Airtel on Monday announced a 2-fold increase in its consolidated net profit to Rs 8.651 billion in the second quarter of the financial year.

Bharti Airtel’s stake in Indus Towers

Bharti Airtel holds 51.03 per cent stake in Indus Towers as of September 30. However, the company said in a filing that “the acquisition does not fall within the scope of related party transactions.” “A special Board of Directors has given its approval authorizing the acquisition of additional shares of up to 5 per cent in Indus Towers Limited, a subsidiary, in one or more tranches over a specified period,” Airtel said in its filing.

Bharti Airtel’s Rs 5,000 crore stake in Indus Towers

Based on Indus Tower’s Monday closing price of Rs 382.70 on BSE, its 5 per cent stake is worth over Rs 5,000 Million. Airtel said the acquisition will be subject to prevailing market conditions, including liquidity and price considerations, and compliance with applicable laws. Public shareholders, including mutual funds Life Insurance Corporation of India, held 48.93 per cent stake in Indus Towers as on September 30. In December 2024, Vodafone sold its 3 per cent stake in Indus Towers for around Rs 2,800 million and exited the company.

Bharti Airtel Customer Base

The company’s total customer base stands at approximately 62.4 crore across 15 countries. The consumer base of the India business was around 45 crore, while the consumer base of the African business was around 17.4 crore.

Sunil Mittal net worth

According to Forbes, the real-time net worth of the founder of Bharti Airtel is $14.7 billion (Rs. 130484 crore) as of November 3.