Singtel Entities Offload 1.76% Stake In Airtel For Rs 7,128 Crore: Report
Singtel entities have jointly offloaded a 1.76 per cent stake in Bharti Airtel for about Rs 7,128 crore, according to sources.
Bharti Airtel promoter Bharti Telecom Ltd has bought a 1.63 per cent stake from Singtel entity Pastel Ltd for Rs 6,602 crore through an open market transaction.
According to the bulk deal data available with the National Stock Exchange (NSE), Bharti Telecom purchased 9,62,34,427 shares, amounting to a 1.63 per cent stake in the company.
The shares were acquired at an average price of Rs 686 apiece, taking the transaction value to Rs 6,601.68 crore.
The shares of Bharti Airtel Ltd were sold by Pastel Ltd, a unit of Singapore Telecommunications Ltd (Singtel).
According to sources, Viridian also offloaded about 1 crore shares.
"Singtel entities have jointly offloaded a total of 1.76 per cent shares on Wednesday. Bharti Telecom has acquired 96 million shares while public has acquired around 7 million shares offloaded by Singtel group firms.
"Post this transaction, public shareholding in Bharti Airtel will increase to 44.87 per cent from 44.74 per cent," a source aware of the development told PTI.
Email query sent to Bharti Airtel did not elicit any reply.
At the end of the June quarter, Bharti Telecom Ltd owned a 35.85 per cent stake in the company, the shareholding pattern showed with the exchange.
Bharti Group chairman Sunil Bharti Mittal's family and Singtel are co-investors in Bharti Telecom Ltd (BTL).
Last week, Singtel announced that its affiliates have entered into an agreement to transfer approximately 3.33 per cent shares to BTL for an aggregate amount of approximately 2.25 billion Singapore dollars (SGD), leaving direct shareholding of Singtel and Bharti in Airtel at around 10 per cent and 6 per cent, respectively.
Singtel at present holds a 50.56 per cent stake in Bharti Telecom and the Mittal family holds 49.44 per cent.
Bharti Telecom at present holds a 35.85 per cent stake in the country's second-largest telecom service provider Bharti Airtel.
Shares of Bharti Airtel were trading 2.36 per cent higher at Rs 770.85 apiece on BSE.Â
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
-
Wrong Labels, High Pesticide Residues Holding Back Agri Exports | The Reason Why
India needs stronger domestic food-safety and labelling standards, with best practices becoming part of everyday business for farmers, traders and food companies.
