Bharti Telecom raises its ownership of Airtel
At now, Sunil Mittal’s Bharti Enterprises and Singapore Telecommunications, also referred to as Singtel, hold 50.56% and 49.44% of Bharti Telecom, respectively.
NEW DELHI: Through a block deal of Rs 8,301.73 crore, Bharti Telecom Ltd (BTL), one of the main promoters of Bharti Airtel, raised its ownership stake in the business by 1.35%.As a result, the business now owns 39.59% of Bharti Airtel, the second-biggest telecom provider in the nation.
The business claimed in an exchange filing that it had paid `8,301.73 crore to purchase 1.35% of Bharti Airtel from Indian Continent Investment Limited (ICIL) using a block deal procedure on the National Stock Exchange of India Limited.
At now, Sunil Mittal’s Bharti Enterprises and Singapore Telecommunications, also referred to as Singtel, hold 50.56% and 49.44% of Bharti Telecom, respectively.The percentage of Indian Continent Investment Limited’s Bharti Airtel in Airtel dropped from 5.93% to 4.56% for the quarter that ended in September 2023. On Friday, Airtel’s stock ended the day marginally lower at Rs 1,012.
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