Bharti Airtel, GAIL (India), Phillips Carbon Black in focus

February 18,2021

Bharti Airtel said that it will acquire a Warburg Pincus affiliate's 20% equity stake in its DTH arm Bharti Telemedia for a total consideration of about Rs 3126 crore which will be discharged primarily via issuance of 36.47 million equity shares of Bharti Airtel at a price of Rs 600 per share; and up to Rs 1037.80 crore in cash.

The proposed transaction is part of Airtel's strategy to align the shareholding of its customer facing products, services and businesses under the same holding group. A full control and ownership over Bharti Telemedia allows Airtel to offer differentiated and converged solutions to customers so as to promote “One Home” strategy.

GAIL (India) said its share buyback will open on 25 February 2021 and close on 10 March 2021.

Phillips Carbon Black said that the company has commissioned two specialty black lines at Palej, Gujarat for production of wide range of specialty black products totalling about 32,000 MTPA to service the growing needs of its customers.

VA Tech Wabag has completed the Financial Closure for its Hybrid Annuity Model (HAM) project received from Kolkata Metropolitan Development Authority (KMDA).

Dish TV India said the company's board approved raising funds through permissible modes and issue of permissible securities, for an amount upto Rs. 1,000 crores, in one or more tranches.

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