Bharti Airtel incorporates subsidiary Airtel Money

Airtel incorporated its wholly-owned subsidiary Airtel Money Limited on July 9, the company told the exchanges in an official communication.

The subsidiary was incorporated with an initial authorised share capital of ₹10,00,000, and paid-up/ subscribed share capital of ₹1,00,000, the statement said.

“The incorporation, being an investment, falls within related party transaction for the Company. The shares have been subscribed at par and at arm’s length,” it added.