Bharti Airtel Ltd has informed BSE that it has appointed a Committee of the Board of Directors to consider the listing of the equity shares of the company.
“The Board of Directors of Bharti Airtel Limited in its meeting held on August 08, 2012 has constituted a Committee of its Board of Directors, to consider and finalise the terms and conditions with respect to participation in the offer for sale of Equity Shares upto 10% of BIL''s equity share capital and for matters incidental thereto.”, it said.
The Proposed Issue may include an offer for sale of equity shares, if desired by the existing shareholders of the Company.
”BIL has informed the Company that any offering and its timing will be subject to market conditions, obtaining necessary shareholder and regulatory approvals. BIL has indicated that there can be no assurance that any offering will happen in a timely manner or at all. The final decision for the Proposed Issue will be taken by the Committee of Directors/the Board of Directors of BIL” the company said in statement.
Bharti Infratel Limited (BIL) has more than 33,000 towers in operation. Bharti Airtel also holds 42 per cent stake in joint venture tower company Indus Towers, which has over 1.10 lakh towers.