“Bharti Telecom Strengthens Bharti Airtel Stake with Rs 8,301 Crore Investment, Surpasses 39.7%”
Bharti Telecom, the promoter firm of Bharti Airtel, has made a significant investment of Rs 8,301 crore, acquiring an additional 1.35 percent stake in the telecom giant through an open market transaction. This move elevates Bharti Telecom’s holdings in Bharti Airtel to 39.7%, further solidifying its position within the company.
Bharti Telecom, the promoter firm of Bharti Airtel, has made a significant investment of Rs 8,301 crore, acquiring an additional 1.35 percent stake in the telecom giant through an open market transaction. This move elevates Bharti Telecom’s holdings in Bharti Airtel to 39.7%, further solidifying its position within the company.
The transaction, revealed through block deal data on the National Stock Exchange (NSE), saw Bharti Telecom purchasing over 8.11 crore shares of Bharti Airtel at an average price of Rs 1,023 per share. Simultaneously, another promoter group entity, Indian Continent Investment Ltd, offloaded an equal number of shares of Bharti Airtel at the same price.
As per stock exchange data from the previous quarter ending in September, Bharti Telecom held a 38.35 percent stake, while Indian Continent Investment Ltd maintained a 5.93 percent stake in Bharti Airtel. Bharti Enterprises, under the leadership of Sunil Mittal, commands a majority stake of 50.56 percent, with Singapore Telecommunications (Singtel) owning the remaining 49.44 percent in Bharti Telecom Limited (BTL).
This recent transaction propels Bharti Telecom’s direct stake in Bharti Airtel to 39.7 percent, marking an increase in its ownership within the company. The acquisition involves the transfer of a significant stake from the promoter group entity, Indian Continent Investment Ltd, which held a 5.93 percent stake in Bharti Airtel as of September 30, 2023.
This move follows a similar trend from the previous year when Singtel entities divested a 1.76 percent stake in Bharti Airtel, amounting to around Rs 7,128 crore. Bharti Telecom, the company’s promoter, acquired a 1.63 percent stake from the Singtel entity Pastel Ltd for Rs 6,602 crore in an open market transaction in September of the prior year.
The consistent strategic investment from Bharti Telecom underscores its commitment to bolstering its position within Bharti Airtel. As the company continues to expand its presence and operations, this move reaffirms the confidence of the promoters in the telecom giant’s growth trajectory and long-term prospects.
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