Other Private Equity/Strategic Investments
Airtel acquires 9% stake in renewable energy co Avaada Clean for Rs.7.9 Cr
Bharti Airtel has acquired around a 9% stake in renewable energy firm Avaada Clean TN Project for about INR 7.88 crore in an all-cash deal. The company has paid INR 7,88,51,500 for the acquisition of 78,85,150 equity shares of INR 10 each. Bharti Airtel's stake acquisition in Avaada is to comply with regulatory requirements for captive power plants under the provisions of Electricity Act 2003.
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