Airtel to acquire Warburg's 20% stake in its DTH arm for $429m

Bharti Airtel said on Wednesday that it will acquire a 20% equity stake of a Warburg Pincus’ entity in its DTH arm Bharti Telemedia for around ₹3,126 crore. The amount will be discharged primarily via issuance of 36.47 million equity shares of Airtel at a price of ₹600 per share; and up to ₹10,378 million in cash. The issuance of shares proposed through preferential allotment is subject to shareholders’ approval.