The total promoter holding in Bharti Airtel will drop by around 4 percentage points to roughly 63%.
By ET Bureau |
Bharti Airtel’s ownership structure will undergo changes with the Singapore government’s investment arm, GIC Pvt Ltd, poised to invest Rs 5,000 crore to buy a 4.4% stake by subscribing to the telco’s upcoming Rs 25,000 crore rights issue.
The total promoter holding in Bharti Airtel will drop by around 4 percentage points to roughly 63%, with Bharti Telecom — a promoter entity — renouncing a portion of its rights subscription in favour of GIC.
SingTel’s effective stake in Bharti Airtel will also decline to 35.2% — from 39.5% now — with the renunciation to GIC and upon closure of the rights issue.
Effective ownership of the Mittal family though will remain at 27.1%. ET takes a look at Airtel’s emerging shareholding structure, post-closing of the rights issue. Analysts expect Airtel’s rights issue to close in the next 3-to-4 months.
