Singtel divests 0.8% in Bharti Airtel for Rs.5,849 cr.
The Hindu
Singtel sells 0.8% stake in Bharti Airtel for Rs.5,849 crore to various buyers, including GQG Partners and Australiansuper.
Singapore-based Singtel on Thursday offloaded 0.8% stake in telecom company Bharti Airtel for Rs.5,849 crore through an open market transaction.
NRI Rajiv Jain-backed GQG Partners, General Organization for Social Insurance, Australiansuper, Abu Dhabi Investment Authority, GSF II Goldman Sachs and Reliance Trust Institutional Retirement Trust, were among the buyers of Bharti Airtel’s shares.
Singtel through its affiliate Pastel Ltd. sold the shares on the National Stock Exchange (NSE).
Singtel entities, including Pastel and Viridian, are promoter entities of Bharti Airtel.
According to the block deal data available with the National Stock Exchange (NSE), Pastel Ltd. offloaded 4.90 crore shares, amounting to a 0.86% stake in Bharti Airtel.
The shares were sold at an average price of Rs. 1,193.70 apiece, taking transaction value to 5,849.13 crore.
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