Bharti Airtel Ltd.’s promoter, Indian Continent Investment, is likely to offload stake worth Rs 9,310 crore in a block deal on Friday, according to the term sheet accessed by NDTV Profit.
Indian Continent Investment will offload up to five crore shares representing 0.8% of equity through the block deal. The offer price for the deal is set at Rs 1,862 per share, which marks a 3.15% discount to the previous closing price of Rs 1,922.6 per share.
Jefferies India and JP Morgan India are the managers for the deal.
As of June, Indian Continent Investment held 2.47% stake in the telecom giant.
Notably, the telco’s major promoter, Bharti Telecom, had acquired a 1.2% stake in the company from Indian Continent Investment on Nov. 7, 2024, according to a PTI report.
