In a filing at the Bombay Stock Exchange (BSE), Bharti Airtel informed that it has concluded the merger of wholly owned subsidiaries – Nettle Infrastructure Investments Limited and Telesonic Networks Limited. The amalgamation, effective February 1, 2023, was carried out after the telco received the requisite approvals from National Company Law Tribunal (NCLT), Chandigarh Bench on January 25, 2023.
With this, both the subsidiaries stand dissolved and amalgamated with the company and all assets, liabilities, contracts, deeds, bonds and other instruments of Nettle and Telesonic stand transferred to Airtel.
In addition, the telco disclosed that 30,000 rated, listed, unsecured, guaranteed and redeemable 5.35 per cent non-convertible debentures with face value of Rs 1,000,000 per debenture of an aggregate principal amount of Rs 30 billion; and 17,500, 5.35 per cent listed commercial papers of 500,000 each of an aggregate principal amount of Rs 8.75 billion issued by Telesonic, shall also stand transferred in the name of the telco, subject to completion of necessary corporate actions with depositories and stock exchanges. Besides, the authorised share capital of Nettle and Telesonic shall be added to the authorised share capital of Airtel.