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Bharti Airtel Ltd And Qatar Foundation Endowment Announces Completion Of Strategic Investment


Monday, 17 Jun 2013 01:51am EDT 

Bharti Airtel Ltd announced that it has completed the allotment of 199,870,006 new equity shares, representing 5% equity stake in the Company, to Qatar Foundation Endowment. The equity shares, having face value of INR5 each, have been issued at a price of INR340 each on a preferential basis for a total consideration of INR6,796 crores. On May 3, 2013 Bharti and Qatar Foundation Endowment had announced a binding agreement for the above mentioned allotment. As part of the investment, QFE is entitled to one seat on the Board of Bharti.