Bharti airtel share price: On February 18, a block deal of Rs 8,475 crore of 5.1 crore shares of telecom player Bharti Airtel (Bharti Airtel) took place on the exchange on 18 February. In this, the Indian Continent Investment was a possible seller. The company’s 0.9 per cent stake was sold through the block deal. Could not immediately identify the parties involved in the Moneycontrol transaction. But our associate channel CNBC-TV18 had said that the Indian Continent is planning to sell a 0.8 percent stake in the investment telecom operator. Due to which the promoter plans to raise Rs 8,000 crore.
The report further revealed that the deal would come with a 180-day lock-in period for the seller, his agents, enrolled persons or subsidiaries. “All orders for shares under this deal will be executed specifically for this transaction and will not be considered as a regular market order,” the report said.
Meanwhile, according to the report, this proposal also does not include the involvement of Singtel. The shares are to be traded through India’s stock exchanges. Pricing guidance will be finalized after these shares enter the market.
Apart from this, our other colleague channel CNBC-Awaaz also indicated a plan to sell its stake in Bharti Airtel through a block deal of Rs 8,500 of Singapore Telecommunications (Singtel’s). , Singtail’s board is expected to have a meeting this week to discuss the proposed stake sales.
By the end of the December quarter, the promoter Indian Continent Investment had a 3.31 percent stake in Bharti Airtel, while Singtel’s subsidiary – Pastel Limited had 9.5 percent direct equity in the telecom operator. Singtel had earlier sold 0.8 percent stake in Bharti Airtel to GQG partners through Block Deal Window in March last year.
Disclaimer: (Information provided here is being given only for information. It is necessary to mention here that the investment in the market is subject to risks. Always consult expert before investing as an investor. It is never advised to apply here.)