Bharti Airtel to sell 5% stake to Qatar Foundation

Bharti Airtel Ltd , India's top telecommunications carrier, said on Friday it would sell a 5 percent stake in the company to Qatar Foundation Endowment for USD 1.26 billion to strengthen the capital structure of the company.

Also read: RBI may be more dovish; 25bps repo cut seen: CNBC-TV18 Poll

Bharti will issue 199.9 million new shares to Qatar Foundation Endowment at 340 rupees apiece, the company said in a statement.

The issue price represents a 7.3 percent premium to the stock's Thursday closing price.