Bharti Airtel share price fell by over 3% during Friday’s trading session, following reports that Singapore Telecommunications (Singtel) is planning to conduct a block deal to sell about 0.8% of its shares in the Indian telecom company.
This transaction, valued at approximately ₹10,300 crore, is set to take place at a minimum price of ₹2,030 per share, reflecting a 3.1% discount from Bharti Airtel’s most recent closing price, according to reports.
Previous reports have suggested that Singtel plans to divest approximately 0.8% of its interest in the Indian telecom firm. As per reports, This move is considered a part of Singtel’s larger restructuring plan aimed at optimizing its investments in regional telecom operations.
According to reports, Singtel has been gradually reducing its stake in Bharti Airtel to free up capital and concentrate on its primary business sectors. Earlier this May, the company disposed of shares valued at 2 billion Singapore dollars.
Additionally, in 2022 and 2024, Singtel secured a total of 3.5 billion Singapore dollars through the sale of shares in Airtel.