trending Market Intelligence /marketintelligence/en/news-insights/trending/8c385chw8jmtzdeih1ymga2 content esgSubNav
In This List

Singtel completes Bharti Telecom stake hike

Podcast

Next in Tech | Episode 168: AI Data Strategies

Case Study

An International Logistics Company Streamlines Transfer Pricing for Its Extensive Network of Subsidiaries

Podcast

Street Talk | Episode 126: Hunting the bears, making the bull case for CRE

Blog

Investment Banking Essentials May 15


Singtel completes Bharti Telecom stake hike

Singtel, through its unit Singtel International Investments Pvt. Ltd., completed a deal to purchase 85,450,000 new equity shares in Bharti Telecom Ltd.

The Singaporean telco paid 26.5 billion Indian rupees in an all-cash transaction, according to a March 12 news release. The price per subscription share was 310 rupees.

As a result of the transaction, Singtel's stake in Bharti Telecom is now at 48.90% from 47.17%.

Since Bharti Telecom owns approximately 50.10% of the share capital of Bharti Airtel Ltd., Singtel's effective interest in Bharti Airtel will move up to 39.51% from 38.64%.

Singtel also announced that SIIPL increased its share capital to S$1.7 billion from S$1.1 billion through the allotment and issue of 539.4 million ordinary shares at S$1 per share to Singapore Telecom International Pte Ltd., SIIPL's holding company, which is a wholly owned subsidiary of Singtel.

Meanwhile, Bharti Airtel, in a regulatory filing, said that its board approved the transfer of 19% equity shares of its unit Bharti Telemedia Ltd. to its wholly owned subsidiary Nettle Infrastructure Investments Ltd.

A portion of the stake will be used for the completion of the stake sale of Bharti Telemedia to Warburg Pincus LLC for approximately US$350 million.

Bharti Telecom is a unit of Bharti Enterprises Ltd.

As of March 13, US$1 was equivalent to 64.76 Indian rupees.