Bharti Airtel has transferred its whole 69.94 per cent stake in Airtel Funds Financial institution to wholly-owned subsidiary Airtel Restricted, a regulatory submitting stated on Tuesday. “The shareholding of 69.94 per cent, held by Bharti Airtel Restricted in Airtel Funds Financial institution Restricted, is being transferred to the Firm’s wholly-owned subsidiary (i.e. Airtel Restricted), submit receiving requisite regulatory and company approvals. The above is an inner reorganisation of shareholding within the Financial institution and has no impression on the possession of the Financial institution,” Bharti Airtel stated within the submitting.
In line with the submitting, the requisite regulatory and company approvals with regard to the transaction have been acquired by the corporate.
Airtel Funds had a turnover of Rs 165.1 crore in 2023-24.
“The switch of shareholding falls throughout the purview of associated celebration transactions and shall be accomplished at arm’s size,” the submitting stated.
