Tuesday saw a decline in the price of Bharti Airtel shares due to the promoter providing off shares in a block sale. For Rs 8,485 crore, Indian Continent Investment Limited sold 51.1 million shares.
Bharti Airtel Share Price Trend:
According to Bharti Airtel, its promoter-group company, Indian Continent Investment Limited (ICIL), sold 5.11 crore equity shares, or 0.84% of the company, in a market transaction for a total of ₹8,485.11 crore.
Following the telecom company’s announcement that Indian Continent Investment Limited (ICIL), the promoter-group firm, has sold a 0.84% interest in the business, the share price of Bharti Airtel dropped more than 1% on Tuesday. On the BSE, Bharti Airtel shares fell as much as 1.15% to ₹1,656.15 per.
Indian Continent Investment Limited (ICIL) sold 0.84% of Airtel’s shares, or 5.11 crore equity shares, in a market transaction for a total of ₹8,485.11 crore, according to a February 18 stock exchange filing by Bharti Airtel.
By purchasing 1.20 crore shares, or 24% of sales today, Bharti Telecom, the promoter of Airtel, anchored the deal and helped ensure that the whole book was distributed solely to prominent, well-known, long-only domestic and international names, the statement added.
This deal comes after Bharti Telecom recently purchased 7.31 crore shares, or an extra 1.2% ownership, in Airtel from ICIL in November 2024.
“This strengthens Bharti Telecom’s position as the primary vehicle to hold a controlling stake in Airtel, as it continues to be focused on progressively growing its stake while maintaining a prudent leverage profile as it does so,” Bharti Airtel stated. Bharti Telecom now owns 40.47% of Airtel.
Bharti Airtel’s ownership structure at the end of the December 2024 quarter showed that the public owned 46.81% of the corporation, while the promoter and promoter group owned 53.11%.
The share price of Bharti Airtel has increased by more than 4% so far this year. The telecom stock has risen 8% in the last three months and 12% in the previous six months. In only one year, Bharti Airtel’s stock has increased by more than 48%, and in just two years, it has produced multi-bagger returns of 114%.
At 10:25 AM, Bharti Airtel’s market capitalization was around ₹9.47 lakh crore, and its shares were trading 0.98% down at ₹1,659.20 per on the BSE.
