News

Bharti Airtel share price dropped by almost 3% during Friday's trading session following reports of block deals. A 1.3% equity stake in Bharti Airtel was sold through large transactions. Approximately 3.1 crore shares were exchanged at an average price of ₹1,820 each, which represents a 3.6% discount compared to the closing price on Thursday, as reported by CNBC-TV18.

Singtel, based in Singapore, is believed to have reduced its stake in the telecom company via its investment arm, Pastel.

This transaction, which is valued at nearly ₹8,570 crore, includes a 60-day lock-up period that prevents any further share sales during that time. According to media reports, Pastel owned a 9.49 percent stake in Bharti Airtel as of the March quarter. JPMorgan is serving as the broker for this deal.

(more to come)

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories

Log in to our website to save your bookmarks. It'll just take a moment.