Bharti Airtel per share Rs. The issue price of 734 allowed preferential allotment of 7.11 crore shares to Google.
NEW DELHI: Global technology giant Google has bought a stake in India’s telecom giant Bharti Airtel. After announcing an investment of 10 billion dollars in India last year, this is Google’s second deal in the Indian telecom sector after Reliance Jio.
Google will buy 7.11 crore shares of Bharti Airtel, according to a regulatory filing today regarding the $1 billion investment announcement in January. The company will buy these shares on preferential basis.
According to a regulatory filing submitted on July 14, Bharti Airtel has paid Rs. The issue price of 734 has allowed a preferential allotment of 7.11 crore shares to Google. Along with this, Google will hold 1.2 percent of the total equity shares of the company.
The Sunil Mittal group company said in a BSE filing, “The company’s ‘Special Committee of Directors for Preferential Allotment’ in its meeting held today, on July 14, 2022, has approved Rs. Allotment of 71,176,839 equity shares of face value of Rs.5/- to Google International LLC. These shares will be issued to Google at a price of 734/-. SS2