Units of Singtel on Wednesday sold a combined 1.76 per cent stake in Bharti Airtel for about Rs 7,128 crore. Sources gave this information. Bharti Telecom Ltd, the promoter of Bharti Airtel, has bought 1.63 per cent stake from Singtel’s arm Pastel Ltd for Rs 6,602 crore through an open market transaction.
As per transaction data available with the National Stock Exchange (NSE), Bharti Telecom bought 9,62,34,427 shares, which is equivalent to 1.63 per cent stake in the company. The shares were acquired at an average price of Rs 686, making the transaction value Rs 6,601.68 crore.
Shares of Bharti Airtel Limited were sold by Pastel Limited, a unit of Singapore Telecom Limited (SingTel). According to sources, Viridian has also sold about one crore shares. A source with knowledge of the matter said, “After this deal, the public stake in Bharti Airtel will increase from 44.74 per cent to 44.87 per cent.”
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