Bharti Airtel likely to see a block deal worth over $1 billion as Singtel unit may sell
Published on 16/05/2025 07:57 AM
Bharti Airtel likely to see a block deal worth over $1 billion as Singtel unit may sellThe floor price of the block deal has been fixed as ₹1,800 per share, which is a discount of 3.6% to Thursday's closing price for Bharti Airtel.By Vivek Iyer May 16, 2025, 7:57:33 AM IST (Published)1 Min ReadBharti Airtel Ltd., the telecom service provider is likely to see a block deal worth over $1 billion on Friday, May 16.
According to the term sheet, accessed by CNBC-TV18, Singtel's unit Pastel, is likely to sell a 0.8% stake through these block deals.
The floor price of the block deal has been fixed as ₹1,800 per share, which is a discount of 3.6% to Thursday's closing price for Bharti Airtel.
There will also be a lock-up of 60 days for the further selling of shares. The floor price and the number of shares being sold, takes the deal value to nearly ₹8,570 crore.
JPMorgan is said to be the broker to the deal.
According to the March quarter shareholding pattern, Pastel holds 9.49% stake in Bharti Airtel.
Shares of Bharti Airtel ended 1.6% higher on Thursday at ₹1,863.1. The stock is trading close to its 52-week high. The stock is also up 17% so far in 2025, featuring among the top performing stocks on the Nifty so far this year.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsBharti AirtelBharti Airtel share priceBharti Airtel sharesblock dealshare market today