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Bharti Infratel says Nettle Infra to buy about 21.63 percent stake in co from Airtel
March 21, 2017 / 4:20 AM / 7 months ago

Bharti Infratel says Nettle Infra to buy about 21.63 percent stake in co from Airtel

(Reuters) - Telecom tower infrastructure company Bharti Infratel said Nettle Infrastructure Investments would buy about 21.63 percent of its stake from company’s promoter Bharti Airtel Ltd.

An advertisement for Bharti Infratel Limited's initial public offering (IPO) is seen posted on a wall as a roadside vendor selling magazines and newspapers waits for customers in New Delhi December 12, 2012. REUTERS/Adnan Abidi/Files

In a disclosure filed with National Stock Exchange, Bharti Infratel said Nettle Infra Investments, a wholly-owned unit of Bharti Airtel, would acquire about 400 million shares on or after March 27.

Shares of Bharti Infratel rose as much as 1.34 percent in early trade on Tuesday to be among the top gainers on the broader Nifty 50 index.

Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Swati Bhat

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