Sunil Mittal-led entity to load Airtel shares of $ 1.06 billion

Copyright © HT Digital Streams Limit all rights reserved. The transaction is expected to take place on Friday 8 August. (Reuters) Summary Indian Continent Investment Ltd will download the shares at an offer price of £ 1.862 per share, representing a 3% discount on the final closing price of the script. Indian Continent Investment Ltd, a promoter group entity from Bharti Airtel, will sell approximately 50 million shares or 0.8% of its $ 1.06 billion value, according to a term state obtained by Mint on Thursday. The transaction is expected to take place on Friday 8 August. Jefferies and JP Morgan manage the transaction, showed the term page. The Sunil Mittal-led promoter group entity of Bharti Airtel will download the shares at an offer price of £ 1.862 per share, representing a 3% discount on the last closing price of the script. On Thursday, Bharti Airtel shares closed at £ 1,920.10 on the National Stock Exchange (NSE), falling 0.5% from Wednesday. The share has risen by 20.3% since the beginning of this year. Also read: 5G spectrum: Behind Reliance Jio’s significant government fees from June ended Indian continent investment 2.47% in Bharti Airtel. The first holding date was on September 30, 2007. Inquiries sent to Airtel on Thursday did not elicit any reply to any reply. In February, the Indian continent investment dropped 0.84% in the company in February for £ 8,485 crore. At the time, Bharti Telecom Limited, another promoter entity of Airtel, obtained almost 24% of the Indian continent investment sale. Last November, Bharti Telecom, which owns 40.47% in Bharti Airtel from June, acquired about 1.2% shares of the company from Indian continent investment through an outdoor market transaction. Despite the fees of Bharti Airtel, a consolidated revenue of £ 1.7 trillion beat in FY25, 10.4% higher than the previous year. The telecommunications operator achieved a 40% record-high revenue market in mobile services during the year, according to the company’s FY25 annual report. Also read: Reliance Jio Q1 Results: 5G, home broadband milestones increase the growth. The deal comes at a time when Bharti Airtel overtook Tata Consultancy Services (TCS) on July 21 to become India’s third largest company by market cap. The company’s market value rose to £ 11.45 billion on the day, which was £ 2220 more than TCs. In the April-Junie quarter, Bharti Airtel’s average revenue per user (ARPU) rose by 2% to a leading £ 250 as it continues to recover low rates. During the same period, the Arpu of Reliance Jio, India’s number 1 defendant by number of subscribers, rose to £ 208.8 from £ 206.2. From 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 in which the telecommunications sector moves towards a duopoly with both Airtel and Jio holding the market share of Vodafone idea and BSNL in the state. In April, Airtel requested the Department of Telecommunications (DOT) to transform its regulatory fees of approximately £ 40,000 into equity, which would give the government a 3-4% stake in India’s second largest telecommunications operator. The company did not disclose whether the government had heard of the government. Within the next year, Airtel has a deferred payment liability for AGR of £ 5,054 crore, in addition to £ 538 in deferred payment liability for Spectrum, according to the company’s FY25 annual report. Over the next five years, Airtel has a total deferred payment liability, including AGR and the spectrum of £ 51.243 crore, according to the report. Also read: Airtel is ready to pay Agr-linked statutory fees, but recently seeks parity in relief, and Airtel is focusing on the business side with new areas such as cloud and data centers. It comes at a time when a weakness in revenue from the B2B business sees, as it casts a low-margin wholesale and message business. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #Bharti Airtel #Telecom Sector #Markets #Airtel #Telecom Read next story