Sunil Mittal-led entity to offload $1.06 billion worth Airtel shares
Indian Continent Investment Ltd, the presence of a supporter group of Bhart Airtel, will sell approximately 50 million shares or 0.8% of its shares according to a period of 1.06 billion dollars Mint Thursday.
The transaction is expected to take place on Friday, August 8th. Page Jeferveries and JP Morgan manages the agreement.
Bhati Airtel’s presence of promoter group led by Sunil Mittal will evacuate the stocks with a bid price La1.862 per share, which represents a 3% discount on Script’s last closing price.
On Thursday, Bhart Airtel shares LaThe National Stock Exchange (NSE) fell by 0.5% on Wednesday, 1.920.10. The stock has increased by 20.3% since the beginning of this year.
As of June, India continental investment received 2.47% of Bharti Airtel. The first Holding date was made on 30 September 2007.
The queries sent to Airtel late on Thursday evening did not answer any answers.
In particular, in February, the investment of the Indian continent evacuated 0.84% of the company. La8.485 Crore. At that time, Bharti Telecom Limited, another supportive presence of Airtel, bought about 24% of the Indian investment sales sales.
Bhang Telecom, which has a shares of 40.47% in Bharti Airtel since June last November, acquired the company’s approximately 1.2% shares from an out -of -market transaction from an investment of India.
Stable growth despite dues
Bharti Airtel watched a consolidated income La1.7 trillion in 25 financial years with an increase of 10.4% compared to the previous year. According to the company’s FY25 year report, the Telecom operator gained a 40% record of income market share in mobile services throughout the year.
The agreement comes at a time when Bharti Airtel released TATA Consulting Services (TCS) on July 21st. The company’s market value has increased La11.45 trillion per day La2,220 Crore more than TCS.
In the April-June quarter, Bharti Airtel’s average income per user (ARPU) is a sector leader. La250 continues to recover from many years of low tariffs. In the same period, according to India’s number of subscribers, the number 1 carrier of Reliance Jio rose. La208.8 from La206.2.
As of the end of June, Reliance Jio had 498 million subscribers and Airtel’s total mobile subscriber base was 362.8 million.
A stable quarter for Airtel comes at a time when the telecom industry is moving towards a duo in which both Airtel and Jio’s Vodafone idea and the state’s BSNL enter the market share.
In April, the Airtel called on the telecommunication department (DOT) to transform the regulatory dues approximately. LaIt has become 40,000 Crore Özkaynak, which will give the government its 3-4% stake in India’s second largest telecom operator. The company did not explain whether it heard the offer from the government.
In the next year, Airtel has a postponed payment obligation for agr. La5,054 Crore, in addition LaAccording to the company’s FY25 year report, 538 Crore in the postponed payment obligation for the spectrum. For the next five years, Airtel has a total postponed payment obligation, including the agr and spectrum. LaAccording to the report 51.243 Crore.
Recently, it has been focusing on the corporate side with new areas such as Airtel, cloud and data centers. This comes at a time when it sees a weakness in the income from the B2B business because it poured the low margin wholesale commodity sound and messaging business.
