On Wednesday, August 3, 20022, Bharti Airtel Ltd. Store in Mumbai, India.
Companies related to Indian billionaires Sunil MittaSold Bharti Airtel As telecom tycoons seek opportunities outside India, stocks worth Rs 84.9 billion (US$976 million) are worth.
According to the regulator, Mittal Register Bharti went to the National Stock Exchange on Tuesday.
The shares were sold to what the company said was the only global and domestic investor, at Rs 1,660 per share, a slight discount to Monday's closing price of Rs 1,675.6. After the transaction, Bharti Telecom will own a 40.5% stake in Bharti Airtel.
The deal comes as Mittal expands its presence outside India, with investments in Africa and a UK-based satellite company Oneweb will compete with Elon Musk's Starlink. Last year, a privately owned Bharti Enterprises unit bought a 24.5% stake in British telephone and telecommunications giant BT Group.
Bharti Airtel (with over 550 million customers in South Asia and Africa) has the idea of Reliance Jio Infocomm (controlled by India's wealthiest man Mukesh Ambani) and billionaire Kumar Birla's Vodafone. In 2022, Google announced a $1 billion investment in Bharti Airtel.
Mittal and his family ranked 7th among India’s 100 rich and rich people with a net worth of $30.7 billion Forbes Asia Last October. Mittal also owns Airtel Payments Bank, a joint venture with Kotak Mahindra Bank controlled by billionaire Uday Kotak.
