BTVL issues 1.25 lakh shares to SCIPL

The commitee of directors of Bharti Tele Ventures (BTVL) at its meeting held yesterday, has approved the issue of 1,25,888 BTVL equity shares to Shyam Cellular Infrastructure Projects (SCIPL).

According to a BTVL release issued to the BSE, the equtiy shares  issued to SCIPL is upon the conversion of balance optionally convertible redeemable debentures (OCRDs) of Rs 2.35 crore out of total OCRDs of Rs 375 crore which were issued to SCIPL last year as part of consideration for acquisition of 67.50% stake of Shyam Group in Hexacom India, holder of licences for Rajasthan & North-East Circle.