Bharti Airtel to acquire 8.8% stake in Bengaluru-based startup Vahan

NEW DELHI: Bharti Airtel Friday said that it will acquire 8.82% stake in the Bengaluru-based technology startup Vahan, as a part of its Startup Accelerator Program.

“With the advent of its Start-up Accelerator Program, Airtel aims to support the creation of a vibrant start-up ecosystem that contributes to “Digital India,” the Sunil Mittal-driven company in a statement said.

Bharti Airtel stocks were trading at Rs 367.75, down 1.26% at the Bombay Stock Exchange (BSE) on Friday.

In a filing to the BSE, the telco indicated that the acquistion would be completed by October 31, 2019.

The Gurugram-based telco, according to the statement, would acquire a stake in Vahan and partner with them in building a significant scale to achieve their vision of enabling jobs for the next billion internet users.