Bharti Airtel to lower direct stake in Infratel from 50.33% to 18.3%

Bharti Infratel Ltd said on Tuesday mobile carrier and its majority shareholder Bharti Airtel Ltd will lower its direct stake in the telecom tower company by more than a half.

Airtel’s unit Nettle Infrastructure Investments Ltd will buy an up to 32 per cent stake in Bharti Infratel by March 18, Infratel said in an exchange filing.

Airtel will own an 18.3 per cent stake in Infratel after the transfer, down from its current stake of 50.33 per cent.

“Whenever Airtel transfers stake to Nettle Infrastructure, (eventually) they will sell the stake to a third party. This will help them raise money,” said a Mumbai-based an analyst, who did not want to be named.