Business

Airtel to buy back 20% stake in Bharti Telemedia from Warburg Pincus for ₹3,126 crore


The Warburg Pincus affiliate had acquired 20% equity stake in Bharti Telemedia in 2018

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

The Warburg Pincus affiliate had acquired 20% equity stake in Bharti Telemedia in 2018 after the announcement of the deal in December 2017.

The transaction will be discharged primarily via issuance of about 3.64 crore equity shares of Airtel at a price of ₹600 per share and and up to ₹1,037.8 crore in cash, Bharti Airtel said in a statement.

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