Bharti Airtel in long-term strategic investment from QFE

Leading global telecommunications services, Bharti Airtel has entered into a binding agreement with Qatar Foundation Endowment (“QFE”), under which Bharti will issue 199,870,006 of its new shares to QFE representing a shareholding of 5% in the Company, post issuance of the new shares. 

As per the agreement, QFE will subscribe to 199,870,006 new shares of Bharti at a price of INR 340 per share amounting to a total consideration of USD 1.26 billion (INR 6796 crores). The investment will further strengthen the capital structure and provide further flexibility for the Company to deliver on its growth strategy. 

commenting on the agreement, Mr. Sunil Bharti Mittal, Chairman, Bharti said “this strategic partnership with QFE demonstrates the confidence they have in the Company and our strategy for growth. In addition, this agreement exemplifies further strengthening of the already deep economic and cultural relations between Qatar and India. We look forward to a long and fruitful partnership with QFE". 

Also speaking on the agreement, Rashid Al-Naimi, Acting Chief Executive Officer, QFE, said “as a long-term global investor, our shareholding gives us exposure to a high growth sector in key emerging markets. QFE looks forward to supporting Bharti in realising the full potential of this world class business.”