Singtel Offloads 1.2% Stake in Bharti Airtel for ₹13,221 Crore via Block Deal

18 May 2025 , 08:08 PM

Singapore Telecommunications Ltd (Singtel) has officially confirmed the sale of a 1.2% stake in Bharti Airtel on Friday, May 16, through a block deal transaction on the Indian stock exchanges.

The telecom major divested around 7.1 crore shares of Bharti Airtel for about $1.54 billion or ₹13,221 crore. The block deal was done at a price of ₹1,814 a share, above the floor price of ₹1,800, equivalent to a 3.6% discount from Bharti Airtel’s last closing price on Thursday.

The transaction has been entered into for offloading some of the stocks of Bharti Airtel owned by Singtel, indicating a consistent trend of capital reallocation, the Singapore-based company said in a statement. Pastel Ltd is a wholly-owned subsidiary of Singtel and is reported to have sold the shares, and is currently holding 9.49% ownership of Bharti Airtel as of the shareholding pattern of the March 2025 quarter.

The agreement includes a 60-day lock-up period, during which no additional shares may be sold by the selling stockholder, which provides immediate short-term stability to the Company’s shareholding. The deal is part of Singtel’s wider group strategic review to maximize financial flexibility and strategically review investment holdings, the statement added.