Singtel entities sell 1.76% stake in Bharti Airtel
8th Sep 2022

Singtel entities have jointly sold a 1.76 percent stake in Bharti Airtel for about Rs 7,128 crore. Bharti Airtel promoter Bharti Telecom has bought a 1.63 percent stake from Singtel entity Pastel 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 percent 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 were sold by Pastel, a unit of Singapore Telecommunications (Singtel).

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.