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The deal, valued at ₹45 million, is expected to close within 30 business days, subject to the fulfilment of closing conditions.
Firefly Networks, a joint venture between Bharti Airtel and Vodafone Idea, contributed a negligible 0.0065% to Airtel’s consolidated turnover and 0.0007% to its net worth in FY24. Following the sale, Firefly will no longer be a joint venture of Bharti Airtel.
The transaction does not involve any related party and complies with SEBI’s Listing Obligations and Disclosure Requirements (LODR). Airtel clarified that Firefly does not qualify as an ‘undertaking’ under SEBI regulations.
Shares of Bharti Airtel closed at ₹1,587.70, down 0.73% on the BSE today.
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The move is seen as part of Airtel’s strategy to streamline operations and focus on its core business verticals. Stock exchanges and regulatory bodies have been informed, and all necessary updates are being undertaken for compliance.
