Bharti Airtel Block Deal: Singaporean Promoter Singtel Plans Rs 8,568-Crore Share Sale
Singtel owned 9.49% equity in Bharti Airtel as of March 2025.
Bharti Airtel Ltd. promoter entity Singtel is set to sell shares worth Rs 8,568 crore through open market transactions on Friday, according to sources.
The Singaporean telecommunications conglomerate, which owns Airtel shares via its arm Pastel Ltd., plans to float around 4.76 crore shares. The floor price for the block deal is set at Rs 1,800 apiece, a 3.6% discount to the last closing. Multinational investment bank JPMorgan is the broker to the deal.
Singtel owned 9.49% equity in Bharti Airtel as of March 2025. The company has been a strategic investor in India's major telecom giant since 2000.
It divested a 3.3% stake in 2022 for Rs 12,895 crore to Bharti Telecom, Airtel's holding company, as per media reports. Last year, it sold a 0.8% stake for Rs 5,850 crore to Rajiv Jain's GQG Partners.
Bharti Airtel's consolidated net profit fell 25% sequentially in the fourth quarter of financial year 2025 but stood firmly higher than what was projected by analysts.
The telecom giant reported a bottom line of Rs 11,022 crore during the January-March period, as compared to Rs 14,781.2 crore in the previous quarter.
Bharti Airtel's stock closed 1.8% higher at Rs 1,866.8 apiece on the BSE, compared to a 1.5% advance in the benchmark Sensex. The stock has risen 42% in the last 12 months and 17% on a year-to-date basis.
Out of the 34 analysts tracking the company, 28 have a 'buy' rating on the stock, four recommend a 'hold' and two suggest a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 1,982, implying a potential upside of 6%.
