Bharti Airtel Promoter’s Increased Shareholding- Smart Move

In between 10th to 13th June 2013, Bharti Airtel Promoters increased their holding from 45.77% to 45.8%. In a filing with BSE/NSE, Promoter’s bought around 1.82 Million equity share worth close to 51Cr.Recently, during EGM, Bharti Airtel approved allocation of 1.99Bn preferential equity share to Qatar Foundation Endowment SPC with share allocation price point of 340 INR and aggregated 6795Cr. In my point of view, the current move by promoters demonstrated their confidence in their business model and strategy moving forward. The current on-going equity share price is around 284 which are 16.4% lower than equity share allocation to Qatar Foundation Endowment SPC or its affiliates. It’s a good move to effectively manage shareholding and making full use of negative news which affected Bharti Airtel share price more than the actual performance. I am sure, smart investors are capable enough to catch the un-catched or missed opportunities.

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