Indian Continent Investment sells over 5 crore shares of Bharti Airtel for Rs 8,485 crore

Bharti Airtel said that Indian Continent Investment Limited (ICIL), a promoter-group entity of Bharti Airtel, has sold nearly 0.84% stake (approximately 5.11 crore shares) in the company through a market transaction.

The value of the aforementioned stake is Rs 8,485.11 crore.

Bharti Telecom Limited, the promoter of Airtel, anchored the trade by acquiring approximately 1.20 crore shares (nearly 24% of ICILs sale), helping the overall book to be allocated only to key marquee long only names, both global and domestic.

This transaction follows Bharti Telecoms recent acquisition of an additional 1.2% stake (7.31 crore shares) in Airtel from ICIL in November 2024.

With this, Bharti Telecom now holds 40.47% of Airtel, reinforcing its previously stated intent of strengthening its position as the principal vehicle to hold controlling stake in Airtel, remaining focused on gradually increasing its stake while maintaining a prudent leverage profile as it does so.

Bharti Airtel is a global communications solutions provider with over 550 million customers in 15 countries across South Asia and Africa.

The company's consolidated net profit surged to Rs 14,781.20 crore in the quarter ended December 2024 as against Rs 2,442.20 crore during the previous quarter ended December 2023. Sales rose 19.08% to Rs 45,129.30 crore in Q3 FY25 as compared with Q3 FY24.

The scrip shed 0.54% to currently trade at Rs 1666.50 on the BSE.

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