Tuesday, 25 September, 2018


Bharti Airtel rises 3% on NCLT approval for scheme of amalgamation

Bharti Enterprises chairman Sunil Mittal Bharti Airtel rises 3% on NCLT approval for scheme of amalgamation
Melba Vasquez | 14 March, 2018, 00:23

Last month, Singtel had announced plans to raise its stake in Bharti Airtel by investing Rs 2,649 crore in the telco's holding company, Bharti Telecom, through a preferential share issue, proceeds of which would be used to cut debt.

The company's board has approved "issuance of non-convertible debentures of up to Rs 10,000 crore on a private placement basis", the company said in a regulatory filing to the BSE.

The company will now approach shareholders for final approval of the proposed funds. "The latest net asset value of each Subscription Share, based on BTL's Indian GAAP standalone management accounts as of 31 December 2017 was approximately INR23.8 and accordingly, the aggregate net asset value of the Subscription Shares is approximately $40.7m (INR2b)".

Bharti Telemedia, which provides DTH service under Airtel Digital TV brand, had a turnover of Rs 3435.8 crore in FY17 comprising 6% of Airtel total revenue. Such tranches/ series and at such rates may be approved from time to time on cumulative basis along with all NCDs issued by the company. Shares of Bharti Airtel were trading 4.12 per cent up at Rs 418.50 on BSE.

In January, the company had made a decision to transfer 25 per cent equity shares in Bharti Telemedia to its wholly owned subsidiary Nettle Infrastructure Investments.

The stock was the biggest gainer among the blue-chips on both Sensex and Nifty. Through its wholly owned subsidiary Nettle Infrastructure Investments Ltd, Airtel divested 83 million shares of Bharti Infratel through a secondary share sale in the stock market for over Rs 3,325 crore.

Recommended

loading...
...

Mehbooba Mufti allots finance ministry to Altaf Bukhari Mehbooba Mufti allots finance ministry to Altaf Bukhari He was the public works (road and buildings) minister during the tenure of former CM Mufti Mohammad Sayeed . So, his party (PDP) took the decision and I feel it is the right decision, Abdullah told reporters here.

Bhandari re-elected as Nepali president for 2nd term Bhandari re-elected as Nepali president for 2nd term As many as 862 votes were cast in the presidential election today at the Federal Parliament Building in New Baneshwor, Kathmandu . Meanwhile, Chief Justice of the country will administer the oath of office and secrecy to the re-elected President on Wednesday.

YouTube extends its 'Dark Theme' to Android and iOS YouTube extends its 'Dark Theme' to Android and iOS Offering a dark theme on YouTube also makes sense from an aesthetic perspective because it gives the app a more cinematic feel. If you're a regular YouTube viewer, you've probably already heard of the platform's "Dark Mode" functionality.

Marcus Rashford Hails Jose Mourinho's Influence on Development Amid Rumours of Discontent Marcus Rashford Hails Jose Mourinho's Influence on Development Amid Rumours of Discontent Here, we take a look at some of the factors that may influence whether Mourinho gives the young forward more opportunities. He had seven matches, seven defeats [sic], zero goals .

NWS Afternoon Briefing on "Major Winter Storm" NWS Afternoon Briefing on Winter storm warnings were in effect for parts of Virginia and West Virginia, where heavy snow already was reported Monday. The National Weather Service issued a blizzard warning for much of the coast of Maine, New Hampshire, and MA .

Sam Bradford is returning to the NFC West Sam Bradford is returning to the NFC West Bradford makes a lot of sense as a bridge option for rookie coach Steve Wilks and an Arizona "D" that isn't far from contention. Quarterback Sam Bradford is set to sign for Arizona Cardinals in the free-agency signing period, according to reports.

Danny Amendola Expected To Leave Patriots, Sign With Dolphins At age 32, Amendola put together the best three-game stretch of his career during the playoffs, catching 26 passes for 348 yards. A year ago was Amendola's best in a Patriots uniform with 61 catches for 659 yards and two touchdowns in the regular season.

Grab to offer loans, insurance with new fintech platform Grab Financial Grab to offer loans, insurance with new fintech platform Grab Financial Grab Financial will offer insurance options to its 2.6 million driver-partners, underwritten by Chubb. Thompson declined to provide financial details of the venture with Credit Saison.

Gigi Hadid and Zayn Malik Release Duel Breakup Statements on Twitter Gigi Hadid and Zayn Malik Release Duel Breakup Statements on Twitter This isn't the first time the couple has broken up over the course of the past couple of years, either. It was a relationship that began at Victoria's Secret Fashion Show after-party and ended on Twitter.

Buying millennial railcard 'harder than getting Glastonbury tickets' Buying millennial railcard 'harder than getting Glastonbury tickets' By 8am it had crashed, redirecting customers to a page that says "Service unavailable" when they click the "Buy now" button. There will be a £12 minimum on tickets between 4.30am and 10am, excluding weekends and public holidays.

Hot Stocks Report: Duke Energy Corporation (DUK), WMIH Corp. (WMIH) It is positive, as 42 investors sold RTN shares while 343 reduced holdings. 116 funds opened positions while 640 raised stakes. The stock of Duke Energy Corporation (NYSE:DUK) earned "Market Perform" rating by Wells Fargo on Wednesday, February 21.

Amazon recalls power banks due to fire and burn hazards Amazon recalls power banks due to fire and burn hazards Product ID number B00LRK8EVO, B00LRK8HJ8, B00LRK8I7O, B00LRK8IV0, B00LRK8JDC or B00ZQ4JQAA is printed on the back of the unit. Amazon is sending out emails to those who have purchased the power banks, recommending they immediately stop using them.

Republican senator puts forward bill to quash Trump's new tariffs Republican senator puts forward bill to quash Trump's new tariffs Earlier this month, he said, "I do think the president will have a challenge from the Republican Party, I think there should be". This year, he has given Senate floor speeches denouncing the president's attacks on the media and antagonism toward Democrats.

U.S. stocks end mixed after February jobs data U.S.  stocks end mixed after February jobs data Johnson Controls was up 1.6 percent after saying it would consider selling a business that makes batteries for vehicles. Over the year, average hourly earnings have increased by 68 cents, or 2.6 percent, lower than market expectations.

Presidency Speaks On IGP's Alleged Disobedience To Buhari Order On Benue Presidency Speaks On IGP's Alleged Disobedience To Buhari Order On Benue We are finished as a people to see how president Buhari turned our country into a theater of mockery and worldwide ridicule over his unpresidential statement at Benue, aired on national T.V nay global .