Bharti Airtel Promoter to Sell 0.8% Stake in Block Deal

Indian Continent Investment Ltd, a promoter entity of Bharti Airtel, is set to offload 4.82 crore shares, representing a 0.8% stake, via block deals. The floor price for the deal is ₹1,658.80 per share. This sale is expected to generate approximately ₹8,000 crore (around $922 million USD). The transaction excludes Singtel’s involvement, and Jefferies India Private Limited is managing the deal. The sale comes as Singtel considers selling shares worth $1 billion in Airtel as part of its capital recycling program. Bharti Telecom had previously increased its stake in Airtel to 40.33% in November.

Source: Economic Times