Bharti Airtel jumps 2% after 7 crore shares allotted to Google at 14% premium

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26 Aug, 2025 12:21

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Shares of Bharti Airtel climbed nearly 2 percent on July 15 after the company said it is allotting 7.11 crore shares to Google on a preferential basis.

“We wish to inform you that the 'Special Committee of Directors for Preferential Allotment' of the company has…approved the allotment of 7,11,76,839 equity shares of the face value of Rs 5 each fully paid up, on preferential basis to Google International LLC at an issue price of Rs 734 per equity share,” Bharti Airtel said in a regulatory filing.

As of 9.58am, the stock traded up 1.72 percent at Rs 653.05 on BSE. The allotment of shares happened at a premium of 14 percent to the last closing price.

The telecom major said after the allotment Google will hold about 1.20 percent of the total post-issue equity shares of the company and about 1.17 percent on fully-diluted basis. Google is shelling out Rs 5,224 crore for the stake.

Google also owns 7.73 percent stake in Jio Platforms, which runs Jio – a direct competitor of Bharti Airtel. Jio Platforms is majority-owned by Reliance Industries.

Bharti Airtel is one of the favourites among analysts from telecom space as they see it as a direct beneficiary of Vodafone Idea’s plight. Moreover it is one of the strongest telecom players with a diversified customer base.

As per data available on Bloomberg, there are 32 ‘buy’ calls on Bharti Airtel along with two ‘hold’ and one ‘sell’.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.