Airtel to buy back 20% stake in DTH arm from Warburg Pincus

Bharti Airtel Ltd said on Wednesday it will buy back US private equity firm Warburg Pincus’ 20% stake in its direct-to-home television unit for ₹3,126 crore.

Warburg Pincus had in December 2017 acquired the 20% stake in Bharti Telemedia Ltd for ₹2,258 crore.

As part of the latest deal, Airtel will issue 36.47 million of its own equity shares at ₹600 apiece to Warburg Pincus and pay ₹1,037.8 crore in cash. The share issuance, which will be done through a preferential allotment, is subject to shareholders’ approval.