Bharti Telecom stake in Airtel comes down to 41.24 pc

Stake of Airtel promoter group firm Bharti Telecom has come down to 41.24 per cent following renouncement of 11.34 crore shares by the entity valued at around Rs 3,920 crore and Rs 25,000-crore rights issue, according to the updated shareholding of the company.

Sunil Bharti Mittal family and Singapore telecom firm Singtel-owned firm Bharti Telecom held 50.1 per cent stake with 211.62 shares in Bharti Airtel at the end of March 2019.

Bharti Telecom shareholding dropped to Rs 200.28 crore in May disclosure by Bharti Airtel.

According to sources, Bharti Telecom renounced shares for the Singapore government and the Monetary Authority of Singapore and foreign-based promoter group firm Indian Continent Investment Limited (ICIL).

However, it cannot be ascertained the exact number of shares that Bharti Airtel transacted to the entities
Responding to an e-mail query, Bharti Airtel said, "As stated in our letter of offer, the promoter group amongst themselves, have subscribed to their aggregate entitlement except to the extent of 227,272,727 shares renounced in favour of GIC Private Limited. Bharti Telecom Limited and Indian Continent Investment are part of the promoter group."