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    532454   INE397D01024

BHARTI AIRTEL LIMITED

(532454)
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Dish TV Clarifies on Report of Airtel Being in Talks to Buy Majority Stake

12/02/2021 | 05:31am EST

Dish TV India Limited (NSEI:DISHTV), on November 2, 2021 refuted media reports suggesting telecom operator Bharti Airtel Limited (BSE:532454) is in early talks to pick up a majority stake in it. Dish TV said in a regulatory filing that it was not aware of the transaction. "We - Dish TV India Limited, would like to state that there is no information available with the Company which is required to be reported under extant SEBI Regulation (Regulation 30), which may have bearing on the stock price of the Company. Further, we would also state that the Company is not aware of the transaction which has been reported in the above mentioned news report," said Dish TV in a stock exchange filing. Airtel is looking to buy 5.93% stake from Dish TV's promoter group and 25.63% stake owned by Yes Bank Ltd, the news report said. The lender is the largest shareholder, according to Refinitiv data. The carrier has offered INR 20 per share for the 5.93% of Dish TV owned by the promoter group, the report said, citing an unnamed company executive. The amount represents a 14% premium to Dish TV's closing price on November 1, 2021. Once the promoters and Yes Bank Limited (NSEI:YESBANK) accept Airtel's offer, the carrier will offer to buy the remaining shares from other investors until it owns 51% stake, the report said. According to the news report, Airtel executives have held talks with Dish TV parent Essel Group's founder Subhash Chandra after accounting firm EY submitted a due diligence report to Airtel on October 25, 2021.


ę S&P Capital IQ 2021
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Analyst Recommendations on BHARTI AIRTEL LIMITED
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Financials
Sales 2022 1 151 B 15 516 M 15 516 M
Net income 2022 50 568 M 682 M 682 M
Net Debt 2022 1 321 B 17 811 M 17 811 M
P/E ratio 2022 87,2x
Yield 2022 0,24%
Capitalization 4 239 B 57 196 M 57 161 M
EV / Sales 2022 4,83x
EV / Sales 2023 4,00x
Nbr of Employees 18 363
Free-Float -
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Mean consensus BUY
Number of Analysts 31
Last Close Price 720,70 INR
Average target price 843,92 INR
Spread / Average Target 17,1%
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Managers and Directors
Gopal Vittal CEO, Managing Director & Executive Director
Soumen Ray Chief Financial Officer-India & South Asia Region
Sunil Bharti Mittal Chairman
Randeep Singh Sekhon Chief Technical Officer & Network Director
Pradipt Kapoor Chief Information Officer
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