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Bharti Airtel Raises Stake in Airtel Africa to Nearly 79%, Issues Shares to ICIL

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Bharti Airtel (NSE:BHARTIARTL, BOM:532454) has completed the acquisition of a 16.3% stake, or 595.2 million shares, in Airtel Africa from ICIL, lifting its holding in the unit to about 79%.

Additionally, the company allotted 146.8 million fully paid equity shares on a preferential basis to ICIL, according to a stock exchange filing on Tuesday. Following the allotment, ICIL holds about 3.25% of Bharti Airtel's post-issue equity capital.

The company's paid-up share capital has increased to 31.2 billion rupees following the issuance.

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