Ibus Network & Infrastructure Pvt. Ltd. agreed to acquire 50% stake in Firefly Networks Limited from Bharti Airtel Limited for INR 45 million.
For the period ending March 31, 2024, Firefly Networks Limited reported total revenue of INR 48 million. As of March 31, 2024, Firefly Networks Limited reported total common equity of INR 3 million.
The expected completion of the transaction is January 6, 2025 to February 6, 2025. BDO Consulting Private Limited, Financial Advisory Arm acted as financial advisor to Bharti Airtel Limited.