Bharti Telecom Acquires 1.35% Stake in Bharti Airtel for Rs 8,301 Crore in Open Market Transaction
Bharti Telecom, the leading promoter of Bharti Airtel Ltd with a 38.35% stake as of September 30, made a significant purchase on Friday. According to data from the National Stock Exchange (NSE), Bharti Telecom procured over 8.11 crore shares, equivalent to a 1.35% stake in Bharti Airtel.
This acquisition was at an average price of Rs 1,023 per share, totaling the transaction value to Rs 8,301.73 crore. Simultaneously, another promoter group entity, Indian Continent Investment Ltd, divested the same quantity of Bharti Airtel shares at the identical price.
As per shareholding data on the bourse, Bharti Telecom held a 38.35% stake, while Indian Continent Investment Ltd possessed a 5.93% stake in Bharti Airtel at the end of the September quarter.
Friday witnessed Bharti Airtel shares dropping by 0.27%, concluding at Rs 1,012 per share on the NSE. Back in September of the previous year, Singtel entities, namely Viridian and Pastel, collectively divested a 1.76% stake in Bharti Airtel, generating around Rs 7,128 crore.
Bharti Telecom, the promoter of Bharti Airtel, acquired a 1.63% stake from Singtel's Pastel Ltd for Rs 6,602 crore in an open market transaction.
Singtel's Viridian and Pastel collectively hold a 10.47% stake in Bharti Airtel, the nation's second-largest telecom service provider. Both Sunil Bharti Mittal's family and Singtel are co-investors in Bharti Telecom Ltd (BTL).
