Bharti Telecom, which is co-owned by Sunil Bharti Mittal household and Singapore-based Singtel, had a 38.35 per cent stake in Bharti Airtel as of September 30. (Photo: Reuters)
With the most recent transaction, Bharti Telecom’s direct stake in Bharti Airtel will attain 39.7 per cent from the 38.35 per cent stake it held earlier than the present transaction
Bharti Telecom, the promoter agency of Bharti Airtel, has purchased an extra 1.35 per cent stake within the nation’s second-largest telecom companies supplier for Rs 8,301 crore via an open market transaction. With this, Bharti Telecom’s direct stake in Bharti Airtel will attain 39.7 per cent from the 38.35 per cent stake it held earlier than the present transaction.
Bharti Telecom, which is co-owned by Sunil Bharti Mittal household and Singapore-based Singtel, had a 38.35 per cent stake in Bharti Airtel as of September 30.
“Bharti Telecom Limited (BTL/ the Company) has acquired 1.35 per cent shares of Bharti Airtel Limited from Indian Continent Investment Limited (ICIL) through block deal mechanism on National Stock Exchange of India Limited for an aggregate amount of Rs 8,301.73 crore,” in keeping with a regulatory submitting.
The firm has acquired the stake from promoter group entity Indian Continent Investment Ltd, which held a 5.93 per cent stake in Bharti Airtel as of September 30, 2023.
According to a PTI report quoting sources, Singapore-based Singtel held a 50.56 per cent stake in Bharti Telecom, and the Mittal household had a 49.44 per cent as of September 30, 2022. According to the block deal information out there with the National Stock Exchange (NSE), Bharti Telecom bought greater than 8.11 crore shares, amounting to a 1.35 per cent stake in Bharti Airtel.
The shares had been acquired at a mean value of Rs 1,023 apiece, taking the mixture transaction worth to Rs 8,301.73 crore. In September final 12 months, Singtel entities — Viridian and Pastel — collectively offloaded a 1.76 per cent stake in Bharti Airtel for about Rs 7,128 crore.
However, Bharti Airtel’s promoter Bharti Telecom has purchased a 1.63 per cent stake from Singtel entity Pastel Ltd for Rs 6,602 crore via an open market transaction. After final 12 months’s transaction, Singtel Group owned an efficient stake of 29.7 per cent, comprising a 19.2 per cent oblique stake via Bharti Telecom and a ten.5 per cent direct stake. On Friday, shares of Bharti Airtel fell 0.27 per cent to shut at Rs 1,012 apiece on the NSE.
(With Inputs from PTI)
