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Bharti Airtel on Friday said that its wholly-owned subsidiary, Airtel Africa (incorporated in UK), has concluded the pre-initial public offering (IPO) placement of shares to six global investors and has also appointed the Board of Directors.
The board includes Sunil Bharti Mittal, Raghunath Mandava, Akhil Gupta, Vishal Mahadevia, Shravin Bharti Mittal and Richard Gubbins. This follows the recent primary equity issuance of $1.25 billion to six leading global investors including Warburg Pincus, SoftBank Group International. It informed the BSE and NSE, ‘upon receipt of full issue proceeds, the primary equity issuance to the leading global investors by Airtel Africa, UK has been completed’.
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