 "Bharti Airtel gains on interim dividend plan")
Bharti Airtel has moved higher by 1.4% to Rs 371, recovering nearly 3% from intra-day low on National Stock Exchange (NSE), after the company said its board will consider the declaration of interim dividend, for the financial year 2014-15 in their meeting scheduled on August 13, 2014.
Bharti Airtel has raised about Rs 2,140 crore from a share sale in its unit Bharti Infratel to comply with a rule that requires listed companies to have a minimum 25% public shareholding.
The company has successfully completed the sale of 85 million equity shares of 10 each aggregating to 4.5% of total equity share capital of Bharti Infratel as on August 7, 2014, Bharti Airtel said in a statement.
The offering saw total bids of 107 million, at a tentative price of Rs 252 a share, according to stock exchange data. The company had fixed a floor price of Rs 250 a share for offer-for-sale.
Stock of Bharti Airtel opened at Rs 364 and touched a low of Rs 361 on NSE. A combined 1.65 million shares changed hands on the counter till early noon deals on NSE and BSE.
Bharti Airtel has raised about Rs 2,140 crore from a share sale in its unit Bharti Infratel to comply with a rule that requires listed companies to have a minimum 25% public shareholding.
The company has successfully completed the sale of 85 million equity shares of 10 each aggregating to 4.5% of total equity share capital of Bharti Infratel as on August 7, 2014, Bharti Airtel said in a statement.
The offering saw total bids of 107 million, at a tentative price of Rs 252 a share, according to stock exchange data. The company had fixed a floor price of Rs 250 a share for offer-for-sale.
Stock of Bharti Airtel opened at Rs 364 and touched a low of Rs 361 on NSE. A combined 1.65 million shares changed hands on the counter till early noon deals on NSE and BSE.