Bharti Airtel approves preferential allotment of 7.11 crore shares to Google – Moneycontrol

Telecom firm Bharti Airtel has approved the preferential allotment of 7.11 crore shares to US-based tech major Google, at an issue price of Rs 734 per share, a regulatory filing stated on July 14.

The decision was given the nod by the “Special Committee of Directors for Preferential Allotment”, which met earlier in the day, Airtel informed the stock exchanges.

The committee approved the “allotment of 71,176,839 equity shares of the face value of Rs. 5/- each fully paid up, on preferential basis to Google International LLC (Google) at an issue price of Rs. 734/- per equity share (including a premium of Rs. 729 per equity share),” it said.

As an outcome of the aforesaid allotment, Google will hold 1.2 percent of total post-issue equity shares of company, Airtel noted.

The paid-up equity share capital of the company will stand increased to R”s 28,306,517,827.50 divided into 5,563,231,650 fully paid-up equity shares of Rs 5 each and 392,287,662 partly- paid-up equity shares of Rs 5…

Read Full Story: https://www.moneycontrol.com/news/business/companies/bharti-airtel-approves-preferential-allotment-of-7-11-crore-shares-to-google-8827571.html

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source: https://news.oneseocompany.com/2022/07/14/bharti-airtel-approves-preferential-allotment-of-711-crore-shares-to-google-moneycontrol_2022071423563.html

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