Bharti Airtel - Allotment Of Equity Shares

Bharti Airtel Ltd has informed that the Allotment Committee of Directors of the Board of the Company at its meeting held on September 12, 2007, has allotted 559,765 fully paid up equity shares of the Company in the following manner:

- 467,040 equity shares upon conversion of USD 2500000 FCCBs pursuant to the terms and conditions of the Offering Circular dated May 12, 2004.

- 92,725 Equity Shares to the employees upon exercise of stock options pursuant to ESOP Scheme 2005 of the Company in the following manner:

- 86,075 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 221/-

- 100 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 313/-

- 175 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 357/-

- 2,175 fully paid up equity shares of Rs 10/- each at an exercise price of Rs 366/-

- 4,200 Equity Shares of Rs 10/- each fully paid up at an exercise price of Rs 390/

With the allotment of the above shares the equity base of the Company stand increased from present level of 1897148464 (Nos.) to 1897708229 (Nos.) Equity shares of Rs 10/- each.