Airtel panel approves preferential allotment of 36.4 million shares to LMIL

Bharti Airtel on Monday said its special panel of directors has approved allotment of 36.4 million equity shares on a preferential basis to Warburg Pincus affiliate at Rs 600 issue price, as partial consideration towards Bharti Telemedia deal. As per the contours of the recently-announced deal, Bharti Airtel will acquire a 20 per cent stake in its DTH arm Bharti Telemedia from Warburg Pincus affiliate Lion Meadow Investment Ltd for about Rs 3,126 crore.