Singtel arm sells 1.59% stake in Bharti Airtel for Rs 7,261 crore
Pastel Ltd, an entity of Singtel, on Thursday divested 1.59 per cent stake in Bharti Airtel for Rs 7,261 crore through an open market transaction.
The stake has been picked by Bharti Airtel’s promoter Bharti Telecom Ltd, as per block deal data with the National Stock Exchange (NSE).
According to the data, Pastel offloaded 9,40,00,000 shares, amounting to 1.59 per cent stake in the company.
The shares were disposed of at an average price of Rs 772.5 apiece, taking the transaction value to Rs 7,261.50 crore.
Pastel Ltd is a unit of Singapore Telecommunications Ltd (Singtel).
Post this transaction, Pastel’s shareholding in Bharti Airtel will decrease to 10.62 per cent from 12.21 per cent.
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