Bharti Airtel on Monday said it completed the allocation of 199,870,006 new equity shares, representing 5 percent equity stake in the company, to Qatar Foundation Endowment.
The Qatar Foundation Endowment picked up the stake at Rs 340 each for Rs 6,796 crore.
Sunil Bharti Mittal, chairman, Bharti, said: “This is a landmark transaction for India and its telecom sector and a vote of confidence from one of the most respected investors in the world. We look forward to a long and fruitful partnership with Qatar Foundation Endowment.”
With the allotment of the new shares, the paid up share capital of Airtel increased to Rs 19,987 crore.
As part of the investment, Qatar Foundation will have one seat on the board of Bharti.
