 "Bharti Infratel dips on stake sale plan by promoter")
Bharti Infratel has dipped 4% to Rs 356 on the National Stock Exchange (NSE) in early morning trade after the company said its promoter, Bharti Airtel, has decided to sell part of its stake though stock exchanges today.
“Bharti Airtel has decided to sell up to 55 million equity shares (with an upsize option of up to 17.5 million additional equity shares) of its subsidiary company Bharti Infratel on February 26, 2015 through stock exchanges,” Bharti Infratel said in a statement.
The transaction is subject to market conditions, it added. As of December 2014, Bharti Airtel held 74.85% stake in Bharti Infratel, the shareholding pattern data shows.
Last week, Bharti Infratel said that the Reserve Bank of India (RBI) had approved increase in foreign investment limit up to 49% of the paid up capital under Portfolio Investment Scheme (PIS) by Foreign Institutional Investors (FIls)/ Registered Foreign Portfolio Investors (RFPIs).
Bharti Infratel opened at Rs 358 and touched a low of Rs 354 on NSE so far. A combined 545,132 shares changed hands on the counter till 1006 hours on the NSE and BSE. On the other hand, Bharti Airtel trading flat at Rs 350 on the NSE. It hit high of Rs 353 and low of Rs 348 so far.
“Bharti Airtel has decided to sell up to 55 million equity shares (with an upsize option of up to 17.5 million additional equity shares) of its subsidiary company Bharti Infratel on February 26, 2015 through stock exchanges,” Bharti Infratel said in a statement.
The transaction is subject to market conditions, it added. As of December 2014, Bharti Airtel held 74.85% stake in Bharti Infratel, the shareholding pattern data shows.
Last week, Bharti Infratel said that the Reserve Bank of India (RBI) had approved increase in foreign investment limit up to 49% of the paid up capital under Portfolio Investment Scheme (PIS) by Foreign Institutional Investors (FIls)/ Registered Foreign Portfolio Investors (RFPIs).
Bharti Infratel opened at Rs 358 and touched a low of Rs 354 on NSE so far. A combined 545,132 shares changed hands on the counter till 1006 hours on the NSE and BSE. On the other hand, Bharti Airtel trading flat at Rs 350 on the NSE. It hit high of Rs 353 and low of Rs 348 so far.