Bharti Airtel sells 32 per cent stake in Bharti Infratel to Nettle

Bharti Airtel’s board has decided to sell 32 per cent of its stake in Bharti Infratel (subject to shareholder approval) to Nettle Infrastructure Investments Limited. After the completion of this transfer, the shareholding structure of Bharti Infratel will change with 18.33 per cent stake held by Bharti Airtel, 35.18 per cent by Nettle and the remaining 46.49 per cent by the public and other shareholders. Meanwhile, the operator’s board has constituted a committee to explore fundraising options to strengthen the company’s balance sheet. According to sources, Bharti Airtel has plans to raise about Rs 150 billion to reduce debt and manage its capital expenditure.