The sale of shares is for complying minimum (25 percent) public shareholding norms announced by the SEBI. As of June 2014, promoter Bharti Airtel holds 79.36 percent equity stake in the company.
Shares of Bharti Infratel , the telecom tower infrastructures provider, dropped more than 6 percent in early trade Thursday, the day when it is selling 8.5 crore equity shares through offer for sale issue (representing 4.5 percent equity stake). The issue will close today itself at 3:30 pm.
" Bharti Airtel proposed to sell up to 4.5 crore equity shares of Bharti Infratel through a sale on the separate window provided by BSE and NSE. In addition to the sale shares, the seller may also sell up to 4 crore shares in the sale," said the company in its filing. A minimum of 25 percent of the sale shares are reserved for allocation to mutual funds, it added.
The company has set a floor price for this issue at Rs 250 per share.
Shares of Bharti Infratel , the telecom tower infrastructures provider, dropped more than 6 percent in early trade Thursday, the day when it is selling 8.5 crore equity shares through offer for sale issue (representing 4.5 percent equity stake). The issue will close today itself at 3:30 pm.
" Bharti Airtel proposed to sell up to 4.5 crore equity shares of Bharti Infratel through a sale on the separate window provided by BSE and NSE. In addition to the sale shares, the seller may also sell up to 4 crore shares in the sale," said the company in its filing. A minimum of 25 percent of the sale shares are reserved for allocation to mutual funds, it added.
The company has set a floor price for this issue at Rs 250 per share.
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