Singtel arm offloads 1.6 per cent stake in Bharti Airtel for Rs 72.62 billion

Singapore Telecommunications Limited (Singtel) has concluded its planned sale of a 3.33 per cent stake in Bharti Airtel for around $1.76 billion (approximately Rs 144 billion). Singtel further noted that Bharti Telecom Limited (BTL) has acquired around 3.2 per cent of the sold stake, while the rest was bought by the public. The deal was executed by Singtel subsidiaries Pastel Limited and Viridian Limited. The two subsidiaries collectively sold and transferred an aggregate of 198 million shares of Bharti Airtel, representing approximately 3.33 per cent of the total number of equity shares of Airtel. Pastel Limited sold around 1.6 per cent stake in Bharti Airtel to BTL through a block deal worth Rs 72.62 billion. It offloaded around 94 million shares, amounting to around 1.6 per cent of Airtel’s equity. Following the recent sale of stakes, BTL’s stake in Airtel has risen to 38.76 per cent from 37.16 per cent, while Singtel’s effective stake in Airtel, in turn, has shrunk below 29 per cent.