Question
Recently the telecom firm Bharti Airtel allotted 1.2%
equity shares to which company for USD 1 Billion?Solution
Telecom operator Bharti Airtel has allotted over 7.1 crore equity shares to internet major Google for Rs 734 a piece. The allotment is part of Google’s commitment to invest USD 1 billion with Airtel, which included equity investment in the company worth USD 700 million, about Rs 5,224 crore. Google now holds a 1.2% stake in India’s 2 telecom service providers. The investment follows Google’s USD 4.5 billion investment in Reliance Jio in July 2020 for India Digitization Fund.
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