Bharti Airtel’s wholly owned subsidiary to acquire 97.1% stake in Beetel Teletech for Rs 669 crore

NEW DELHI: Bharti Airtel Services , a wholly owned subsidiary of Bharti Airtel , has entered into an agreement to acquire 49.45 lakh equity shares or 97.1% stake in Beetel Teletech , which is another Bharti Group , for Rs 669 crore as part of a group restructuring exercise. “...we wish to inform you that as a part of group restructuring, Bharti Airtel Services Limited, a wholly owned subsidiary company of Bharti Airtel Limited has entered into an agreement for acquisition of 49,45,239 equity shares representing 97.1% stake in another Bharti Group company, Beetel Teletech Limited,” Airtel said in a regulatory filing Monday.

Advt Airtel said in the filing the acquisition is part of the company’s strategy to enable indigenisation initiatives within its ecosystem of telecom products in line with the government’s policy of ‘Make in India’, and add distribution and service capabilities (including system integration) largely for the company’s enterprise business.

Consequently, Beetel will become a subsidiary of the company. The acquisition is a related party transaction (RPT) in terms of the provisions of SEBI Listing regulations. Bharti Group companies – Bharti Enterprises (Holding) Private Limited, Bharti (RM) Holdings Private Limited, Bharti (RBM) Holdings Private Limited and Bharti (LM) Enterprises Private Limited – hold 97.1% stake in Beetel, according to the filing.

Beetel Teletech Limited was incorporated on March 30, 1999. It has relationships with global original equipment manufacturers (OEMs) and channel comprising a large number of channel partners, distributors and retailers. The Delhi based firm is engaged in designing and delivering technical solutions and services and distributing a wide range of products from IT peripherals, network and enterprise solutions to fixed landlines and mobile accessories.

Beetel distributes products of leading brands including Avaya, HP/Poly, Samsung , Siemens, QSC, RADWIN, Ruckus , RAD, ADVA, and Actelis. Beetel also holds a 49% stake in a Joint Venture that has two facilities for manufacturing landlines, telecom and networking products including products that are manufactured in compliance with the Production Linked Incentive (PLI) scheme for telecom gear.

Advt Beetel’s standalone turnover grew from Rs 1,306.16 crore in FY22 to Rs 1,508.45 crore in FY23. ETTelecom Published On Jan 2, 2024 at 08:13 AM IST Telegram Facebook Copy Link Be the first one to comment. Comment Now COMMENTS Comment Now Read Comment (1) All Comments Post Post Find this Comment Offensive? Choose your reason below and click on the submit button.

This will alert our moderators to take actions REASONS FOR REPORTING Foul Language Defamatory Inciting hatred against a certain community Out of Context / Spam Others Report Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETTelecom App Get Realtime updates Save your favourite articles Scan to download App Bharti Airtel beetel bharti group samsung ministry of communications Bharti Airtel Services Beetel Teletech telecom news Ruckus {"@context":"http://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https://telecom.economictimes.indiatimes.com","name":"Home"}},{"@type":"ListItem","position":2,"item":{"@id":"https://telecom.economictimes.indiatimes.com/news","name":"News"}},{"@type":"ListItem","position":3,"item":{"@id":"https://telecom.economictimes.indiatimes.com/news/industry","name":"Industry"}},{"@type":"ListItem","position":4,"item":{"@id":"https://telecom.economictimes.indiatimes.com/news/industry/bharti airtels wholly owned subsidiary to acquire 97 1 stake in beetel teletech for rs 669 crore/106463401","name":"Bharti Airtel’s wholly owned subsidiary to acquire 97.1% stake in Beetel Teletech for Rs 669 crore"}}]} {"@context":"http://schema.org","@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https://telecom.economictimes.indiatimes.com/news/industry/bharti airtels wholly owned subsidiary to acquire 97 1 stake in beetel teletech for rs 669 crore/106463401"},"headline":"Bharti Airtel’s wholly owned subsidiary to acquire 97.1% stake in Beetel Teletech for Rs 669 crore","datePublished":"2024 01 02T08:13:01+05:30","dateModified":"2024 01 02T08:13:03+05:30","articleBody":"NEW DELHI: Bharti Airtel Services, a wholly owned subsidiary of Bharti Airtel, has entered into an agreement to acquire 49.45 lakh equity shares or 97.1% stake in Beetel Teletech, which is another Bharti Group, for Rs 669 crore as part of a group restructuring exercise.

“...we wish to inform you that as a part of group restructuring, Bharti Airtel Services Limited, a wholly owned subsidiary company of Bharti Airtel Limited has entered into an agreement for acquisition of 49,45,239 equity shares representing 97.1% stake in another Bharti Group company, Beetel Teletech Limited,” Airtel said in a regulatory filing Monday.

Airtel said in the filing the acquisition is part of the company’s strategy to enable indigenisation initiatives within its ecosystem of telecom products in line with the government’s policy of ‘Make in India’, and add distribution and service capabilities (including system integration) largely for the company’s enterprise business.

Consequently, Beetel will become a subsidiary of the company.The acquisition is a related party transaction (RPT) in terms of the provisions of SEBI Listing regulations. Bharti Group companies – Bharti Enterprises (Holding) Private Limited, Bharti (RM) Holdings Private Limited, Bharti (RBM) Holdings Private Limited and Bharti (LM) Enterprises Private Limited – hold 97.1% stake in Beetel, according to the filing.

Beetel Teletech Limited was incorporated on March 30, 1999. It has relationships with global original equipment manufacturers (OEMs) and channel comprising a large number of channel partners, distributors and retailers. The Delhi based firm is engaged in designing and delivering technical solutions and services and distributing a wide range of products from IT peripherals, network and enterprise solutions to fixed landlines and mobile accessories.

Beetel distributes products of leading brands including Avaya, HP/Poly, Samsung, Siemens, QSC, RADWIN, Ruckus, RAD, ADVA, and Actelis. Beetel also holds a 49% stake in a Joint Venture that has two facilities for manufacturing landlines, telecom and networking products including products that are manufactured in compliance with the Production Linked Incentive (PLI) scheme for telecom gear.

Beetel’s standalone turnover grew from Rs 1,306.16 crore in FY22 to Rs 1,508.45 crore in FY23.","keywords":["Industry","Bharti Airtel","Beetel","Bharti Group","Samsung","Ministry Of Communications","Bharti Airtel Services","Beetel Teletech","Telecom News","Ruckus"],"articleSection":"Industry","url":"https://telecom.economictimes.indiatimes.com/news/industry/bharti airtels wholly owned subsidiary to acquire 97 1 stake in beetel teletech for rs 669 crore/106463401","description":"“...we wish to inform you that as a part of group restructuring, Bharti Airtel Services Limited, a wholly owned subsidiary company of Bharti Airtel Limited has entered into an agreement for acquisition of 49,45,239 equity shares representing 97.1% stake in another Bharti Group company, Beetel Teletech Limited,” Airtel said in a regulatory filing Monday.","author":[{"@type":"Thing","name":"ET Telecom","url":"https://telecom.economictimes.indiatimes.com"}],"publisher":{"@type":"NewsMediaOrganization","name":"ETTelecom","logo":{"@type":"ImageObject","url":"https://img.etb2bimg.com/files/cp/upload 1679566637 et telecom light theme.png","width":600,"height":60}},"image":[{"@type":"ImageObject","url":"https://etimg.etb2bimg.com/thumb/msid 106463401,width 1200,height 900,resizemode 4/.jpg","width":1200,"height":900}]} Home News Industry Bharti Airtel’s wholly owned subsidiary to acquire 97.1% stake in Beetel Teletech for Rs 669 crore.