New Delhi / Doha, Bharti Airtel growing telecommunications services provider with operations in 20 countries across Asia and Africa, today announced that it has entered into a binding agreement with Qatar Foundation Endowment ("QFE"), under which Bharti will issue 199,870,006 of its new shares to QFE representing a shareholding of 5% in the Company, post issuance of the new shares.
.
As per the agreement, QFE will subscribe to 199,870,006 new shares of Bharti at a price of INR 340 per share amounting to a total consideration of USD 1.26 billion (INR 6796 crores) . The investment will further strengthen the capital structure and provide further flexibility for the Company to deliver on its growth strategy.
.
Mr. Sunil Bharti Mittal, Chairman, Bharti commented:
.
"I am delighted to welcome another high quality long-term institutional investor to our shareholder base.