Bharti Infratel scrip slides 6% on US PE fund stake sale buzz
24 Sept 2014 4:27 AM IST
Following the buzz, shares of Bharti Infratel tumbled 5.67 per cent to settle at Rs 292.20 on the Bombay Stock Exchange (BSE). During the day, it lost 6 per cent to Rs 309.75.
At the National Stock Exchange (NSE), the stock was down 6.24 per cent to Rs 293.10 at close of trade.
On the volume front, 3.19 lakh shares of the company changed hands at the BSE, while over 29 lakh shares were traded at the NSE during the day. As per media reports, American private equity fund Kohlberg Kravis Roberts and Co (KKR) is set to launch a share sale that could raise about $230 million as it exits Bharti Infratel six years after investing.
KKR owns 4.5 crore shares, or 2.38 per cent stake in Bharti Infratel, as per the company's shareholding pattern on BSE. Meanwhile, the benchmark Sensex reversed initial losses and closed up with a gain of over 116 points at two-week high of 27,206.74 on the back of buying in blue-chips like ITC and ONGC. The 30-share BSE Sensex resumed lower following weak Asian cues and dropped to a low of 26,918.93, revealing a fall of over 170 points from previous close.
After mid-session, the index rebounded on buying in select key counters to settle with a gain of 116.32 points or 0.43 per cent at 27,206.74, a level not seen since 9 September, 2014 when it had settled at 27,265.32.
At the National Stock Exchange (NSE), the stock was down 6.24 per cent to Rs 293.10 at close of trade.
On the volume front, 3.19 lakh shares of the company changed hands at the BSE, while over 29 lakh shares were traded at the NSE during the day. As per media reports, American private equity fund Kohlberg Kravis Roberts and Co (KKR) is set to launch a share sale that could raise about $230 million as it exits Bharti Infratel six years after investing.
KKR owns 4.5 crore shares, or 2.38 per cent stake in Bharti Infratel, as per the company's shareholding pattern on BSE. Meanwhile, the benchmark Sensex reversed initial losses and closed up with a gain of over 116 points at two-week high of 27,206.74 on the back of buying in blue-chips like ITC and ONGC. The 30-share BSE Sensex resumed lower following weak Asian cues and dropped to a low of 26,918.93, revealing a fall of over 170 points from previous close.
After mid-session, the index rebounded on buying in select key counters to settle with a gain of 116.32 points or 0.43 per cent at 27,206.74, a level not seen since 9 September, 2014 when it had settled at 27,265.32.
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