Airtel approves allotment of 71.1 mn shares to Google at Rs 734 per share

Google will hold 1.2 per cent of the total post-issue equity shares of the company, Bharti Airtel said

Telecom major Bharti Airtel on Thursday approved the preferential allotment of 71.1 million shares to tech giant Google, at an issue price of Rs 734 per share, the company said in a regulatory filing.

The company's 'Special Committee of Directors for Preferential Allotment' met earlier today and has given the nod for the decision.

"Allotment of 711,76,839 equity shares of the face value of Rs. 5/- each fully paid up, on preferential basis to Google International LLC (Google) at an issue price of Rs. 734/- per equity share (including a premium of Rs. 729 per equity share)," Bharti Airtel's