Bharti Airtel’s stake worth ₹8,475 Crore change hands in block deal

18 Feb 2025 , 01:41 PM

Bharti Airtel witnessed a block deal worth ₹8,475 Crore in Tuesday’s morning trade. As per the reports, as many as 5.1 Crore shares changed hands during the block trade. The company’s promoter Indian Continent Investment offloaded nearly 0.84% of stake in the company.

On Monday, it was reported that Bharti Airtel’s promoter Indian Continent Investment Limited may sell approximately 0.80% stake in the telecom giant, at a share price of ₹1,658.80.

At the end of December 2024, the promoter entity held 3.31% stake in Bharti Airtel.

This transaction comes after Bharti Telecom’s recent acquisition of an additional 1.2% stake in Airtel from ICIL. Thereafter, Bharti Telecom now holds about 40.47% stake in Airtel.

Following this development, Bharti Airtel was trading 0.70% lower at ₹1,663.95 per piece, against the previous close of ₹1,675.55 on NSE. The counter touched an intraday high and low of ₹1,695.95, and ₹1,655.80, respectively.

Apart from this, the telecom operator also announced that it has secured the new SEA-ME-WE 6 (Southeast Asia-Middle East-West Europe-6, or SMW6) submarine cable in Chennai.

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