Airtel transfers 16.76 per cent stake in Bharti Infratel to Nettle Infra

Bharti Airtel has transferred an additional 16.76 per cent stake held in Bharti Infratel to Nettle Infrastructure Investments Limited. The stake, worth over Rs 100 billion, has been transferred in two tranches. As per the filing, an 8.65 per cent stake was transferred to Nettle Infrastructure on March 18, 2019 while another 8.11 per cent stake was transferred on March 19, 2019. The value of these shares at the Bombay Stock Exchange closing rate of Rs 326.90 apiece amounts to over Rs 101.33 billion. With the fresh transaction, Bharti Airtel’s stake parked with Nettle Infrastructure has now increased from 3.18 per cent to 19.94 per cent. Airtel, which holds a 53.51 per cent stake in Bharti Infratel, had earlier announced that it was parking its stake in Nettle Infrastructure, a wholly owned subsidiary of the company, as it plans to monetise its stake in Bharti Infratel.

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