Bharti Tele issues 52 lakh shares to Shyam group

The board of directors of Bharti Tele Ventures, which met on April 25, 2005, has issued 52,24,479 equity shares of the company to Shyam Cellular Infrastructure Projects (SCIPL).

According to a release issued by Bharti to the BSE today, the shares have been issued to SCIPL upon conversion of Rs 100 crore optionally convertible redeemable debentures (OCRDs) issued to it last year as part of consideration for the acquisition of 67.5% stake of Shyam Group in Hexacom India - the holder of licences for Rajasthan & North East circles.