Airtel to allocate 9.7 lakh equity shares, 497 special shares to Tata Tele

New Delhi: Bharti Airtel’s committee of directors on Friday approved allocation of over 9.7 lakh equity shares and 497 redeemable preference shares to shareholders of Tata Teleservices as part of merger process.

“970,668 equity shares (in aggregate including fractional entitlements) fully paid up of face value of Rs 5 per share of the company to the eligible equity shareholders of TTML in the ratio of 1 equity share of the company for every 2,014 equity shares held in TTML by eligible equity shareholders of TTML,” Airtel said in a bSE filing.