Bharti Infratel has dipped over 4% to Rs 299 on National Stock Exchange (NSE) on reports that US-based private equity fund Kohlberg Kravis Roberts and Co. (KKR) is planning to sale its entire stake in the telecom tower firm.
“American equity fund KKR is set to launch a share sale to exit from its holding in the company,” an Economic Times report suggests.
KKR, which currently owns 2.38% stake in Bharti Infratel, has been investing in the company since the last six years.
"KKR has already called for pitches from investment banks such as Morgan Stanley, UBS and Citigroup. It will be via block trades on the stock exchanges,” added report.
The stock opened at Rs 310 and touched a low of Rs 297 on NSE. A combined 493,996 shares changed hands on the counter so far on the NSE and BSE. Meanwhile, so far in the year 2014, the stock has outperformed the market by rallying 85% compared to 28% rise in benchmark CNX Nifty till Friday.
“American equity fund KKR is set to launch a share sale to exit from its holding in the company,” an Economic Times report suggests.
KKR, which currently owns 2.38% stake in Bharti Infratel, has been investing in the company since the last six years.
"KKR has already called for pitches from investment banks such as Morgan Stanley, UBS and Citigroup. It will be via block trades on the stock exchanges,” added report.
The stock opened at Rs 310 and touched a low of Rs 297 on NSE. A combined 493,996 shares changed hands on the counter so far on the NSE and BSE. Meanwhile, so far in the year 2014, the stock has outperformed the market by rallying 85% compared to 28% rise in benchmark CNX Nifty till Friday.
