$BHARTIARTL l wins near-unanimous shareholder approval for Africa stake consolidation via share swap - Know key numbers and how it works | Explained

Bharti Airtel has secured near 100 per cent shareholder backing for its plan to consolidate its stake in Airtel Africa, strengthening its hold on the fast-growing business. The company will acquire a 16.31 per cent stake from Indian Continent Investment Ltd (ICIL), the Sunil Mittal family office, through a cashless share swap, increasing its ownership in the African arm to over 79 per cent while limiting any immediate impact on its balance sheet. Bharti Airtel share swap explained Bharti Airtel will issue 14.67 cr fully paid-up equity shares on a preferential basis to ICIL. (2.4 per cent of total equity) Bharti total outstanding shares at 609 cr, 14.67 cr is 2.4 per cent Shares will be issued at Rs 1,923 apiece, totaling to Rs 28,200 cr.