Bharti Airtel drops as Singtel unit offloads Rs 10,300 crore stake in block deal

Bharti Airtel tumbled 4.16% to Rs 2,007.40 after a large block deal hit the exchanges early on Friday.

According to reports, Pastel, a subsidiary of Singapore Telecommunications (Singtel), sold about 0.8% stake in the telecom major through a transaction valued at around Rs 10,300 crore.

The floor price for the deal was set at Rs 2,030 per share, representing a 3.1% discount to Airtel's Thursday closing price of Rs 2,094.60 on the BSE. Pastel offloaded approximately 5.1 crore shares of Bharti Airtel.

The stake sale is part of Singtel's capital management strategy aimed at optimising its portfolio and enhancing shareholder returns.

This marks Singtel's second major divestment in Airtel this year. In May 2025, the company had sold a 1.2% direct stake in Airtel for S$2 billion (around $1.5 billion) through a private placement to a mix of international and domestic institutional investors, including existing Airtel shareholders.

Following the latest transaction, Singtel will hold 27.5% stake in Airtel, valued at an estimated S$51 billion.

Bharti Airtel is a global communications solutions provider with over 600 million customers in 15 countries across India and Africa. The telecom major reported 89.02% surge in consolidated net profit to Rs 6,791.7 crore on 25.73% increase in revenue from operations to Rs 52,145.4 crore in Q2 FY26 over Q2 FY25.

Powered by Capital Market - Live News