Airtel to buy back 20% stake in DTH arm from Warburg Pincus for Rs 3,126 cr

Bharti Airtel said it will issue about 36.5 million shares to a Warburg Pincus affiliate at Rs 600 per share, and up to Rs 1,038 cr in cash

Bharti Airtel on Wednesday said it will acquire 20 per cent stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about Rs 3,126 crore.

In December 2017, a Warburg Pincus affiliate, agreed to acquire 20 per cent equity stake in Bharti Telemedia Limited, the DTH arm of Airtel.

The transaction will be done via issuance of 36.47 million equity shares of Airtel at a price of Rs 600 per share, and up to Rs 1037.8 crore in cash. 

The issuance of shares is proposed through preferential allotment is subject to shareholders’ approval.

"The proposed transaction