Bharti Airtel will remain in sharp focus on Wednesday, November 26, after a PTI report confirmed that Indian Continent Investment Ltd (ICIL) — a promoter entity linked to the Sunil Bharti Mittal family office — will offload 3.43 crore equity shares, amounting to a 0.56% stake, in the telecom major. The total transaction size is pegged at ₹7,190 crore ($806 million).
According to the term sheet accessed by PTI, the shares will be sold on the stock exchanges at a floor price of ₹2,096.70, representing a 3% discount to Airtel’s Tuesday closing price of ₹2,161.60 on the NSE.
The sale is being executed through one or more share deals, with Goldman Sachs (India) Securities Pvt Ltd appointed as the sole placement agent for the transaction.
Share sale details
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Shares to be sold: 34.3 million shares (3.43 crore)
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Stake dilution: 0.56% of outstanding equity
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Floor price: ₹2,096.70 per share
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Total size: ₹7,189.19 crore (~$806 million)
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Nature of sale: Entirely secondary — no new shares issued
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Proceeds will go directly to the selling shareholder (ICIL)
Impact on promoter holding
As of the September quarter, ICIL held 1.48% in Bharti Airtel.
Post-transaction, its stake will drop to 0.92%.
Promoter entities, including Bharti Telecom Ltd and Singtel’s affiliate Pastel Ltd, together hold 50.27% in the company.
Following the completion of the deal, ICIL will be under a 90-day lock-up, restricting any further stake sale during this period.
Recent promoter-level transactions
The latest sale adds to a series of stake movements in Airtel this year:
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Singtel sold 0.8% stake earlier this month for ₹10,353 crore.
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In August, ICIL sold nearly 1% stake for ₹11,227 crore.
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In February, ICIL had offloaded shares worth ₹8,485 crore via market transactions.
Airtel shares under pressure
Ahead of the block deal, Bharti Airtel’s shares dropped 2.54%, trading at ₹2,106.80 during early market hours on Tuesday, with the market reacting to the sizeable promoter-level supply hitting the counter.
About Bharti Airtel
Bharti Airtel is one of India’s largest and most diversified telecom and digital services companies, operating across 17 countries in Asia and Africa. Its portfolio spans mobile services (2G, 4G, 5G), home broadband, DTH, enterprise connectivity, cloud, data centres, IoT and other digital solutions.
