Tuesday 1 October 2013

Bharti Airtel shines on getting nod to sell Data Centre to Nxtra Data for Rs 177 crore

Bharti Airtel is currently trading at Rs. 319.00, up by 0.75 points or 0.24% from its previous closing of Rs. 318.25 on the BSE.

The scrip opened at Rs. 319.60 and has touched a high and low of Rs. 322.00 and Rs. 309.25 respectively. So far 104965 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 370.40 on 25-Jan-2013 and a 52 week low of Rs. 256.65 on 15-Oct-2012.

Last one week high and low of the scrip stood at Rs. 339.10 and Rs. 312.00 respectively. The current market cap of the company is Rs. 125378.45 crore.

The promoters holding in the company stood at 65.23% while Institutions and Non-Institutions held 24.40% and 10.37% respectively.

Bharti Airtel has received its shareholders’ approval for proposal for selling the company’s Data Centre and Managed Services business to its wholly-owned subsidiary Nxtra Data for about Rs 177 crore.

The transfer consideration has been arrived at on the basis of enterprise value of the DCMS business after reducing the liabilities in relation to the said business. The company already, on July 30, received its board’s approval for the transaction.

Bharti Airtel owns seven operational data centres across the country. Out of them, two are in Noida, one each in Chennai, Bangalore, Pune, Bhubaneswar and Mumbai.

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