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Bharti Airtel aims to sell Bharti Infratel shares worth Rs 2125 crore; sets floor price at Rs 250

Thursday, 7 August 2014 - 9:51am IST | Place: Mumbai | Agency: dna webdesk

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Telecom giant Bharti AIrtel is all set to sell 4.5 crore equity shares of Bharti Infratel on the stock exchange. The floor price has been set at Rs 250 per share and the sale would be conducted both on the BSE and the NSE. 

"In addition to the sale shares, the seller may also sell up to 4 crore shares in the sale," said the company in its filing.

A minimum of 25 percent of the sale shares are reserved for allocation to mutual funds , it added.

Bharti Airtel will raise up to Rs 1,125 crore  ($183 million) at the floor price set, according to Reuters calculation. If one adds the additional 4 crore shares it might put up on sale, the total funds raised could go up to Rs 2125 crore.

As of end-June, Bharti Airtel owned 79.4 percent of Bharti Infratel, which is a mobile phone mast operator.

The share sale will close at 3.30 pm today.

Bharti AIrtel shares are up 0.15% at Rs 368. Bharti Infratel shares have fallen 6% to Rs 254.

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