Last Updated:
Bharti Airtel confirmed that its promoter entity sold a 0.84 percent stake, with 1.20 crore shares being acquired by Bharti Telecom
Bharti Airtel block deal
Bharti Airtel Block Deal: On February 18, a block deal involving 5.1 crore shares of Bharti Airtel, valued at Rs 8,475 crore, was executed on the exchanges, with Indian Continent Investment, a promoter entity, being the seller. The deal accounted for a 0.9 percent stake in the telecom company.
Bharti Airtel confirmed that its promoter entity sold a 0.84 percent stake, with 1.20 crore shares being acquired by Bharti Telecom, another promoter. The shares were allocated exclusively to key long-only investors, both global and domestic, the company stated.
Following the block deal, Bharti Airtel’s shares remained volatile, trading at Rs 1,671.50 on the NSE at 09:26 am.
According to a report by CNBC-TV18, the deal comes with an 180-day lock-in period for the seller, its agents, nominees, or subsidiaries. Additionally, all orders placed for shares under this deal will be treated as part of the specific transaction, rather than regular market orders.
This transaction follows Bharti Telecom’s acquisition of an additional 1.2 percent stake in Bharti Airtel from Indian Continent Investment in November 2024. With this latest increase, Bharti Telecom now holds nearly 40.5 percent of Bharti Airtel, strengthening its position as the primary controlling entity of the telecom operator while gradually expanding its stake with a cautious approach to leverage.
Meanwhile, CNBC-Awaaz reported that Singapore Telecommunications Limited (SingTel) is considering offloading its stake in Bharti Airtel through an Rs 8,500 crore block deal. SingTel’s board is expected to meet this week to discuss the potential sale as part of its capital management strategy, although an official statement from SingTel is still awaited.
As of the end of December 2024, Indian Continent Investment held a 3.31 percent stake in Bharti Airtel, while SingTel’s subsidiary, Pastel Limited, owned 9.5 percent. SingTel had previously sold a 0.8 percent stake in Bharti Airtel to GQG Partners through a block deal in March 2024.
