The Sunil Bharti Mittal-led firm has earlier acquired 5.2 per cent stake in Avaada MHBuldhana for Rs 4.55 crore(US$ 627,919.57) in an all-cash deal.
Bharti Airtel has acquired a 3.33 per cent stake in special purpose vehicle Avaada MHBuldhana that was formed for the purpose of owning and operating the Captive Power Plant
“…the Company has further …for acquisition of additional 2,914,100 equity shares (approx. 3.33%) at Rs. 10/- per equity share in Avaada MHBuldhana Private Limited, a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant, in terms of the regulatory requirement for captive power consumption,” said the telco in a late night notice on BSE on Monday.
This is the second such acquisition in Avaada MHBuldhana for Airtel , previous one being a 5.2 per cent stake for Rs 4.55 crore in an all cash deal.
The indicative time for completion of the acquisition is April 30, 2021 , said the statement.
