Bharti Airtel shares worth nearly $1 billion change hands in a large trade; stock falls
Published on 16/05/2025 09:24 AM
Bharti Airtel shares worth nearly $1 billion change hands in a large trade; stock fallsAccording to the March quarter shareholding pattern, Pastel holds 9.49% stake in Bharti Airtel.By Vivek Iyer May 16, 2025, 9:24:14 AM IST (Updated)1 Min ReadAs many as 3.1 crore shares of telecom service provider Bharti Airtel Ltd. changed hands in a block deal on Friday, May 16.
The number of shares that changed hands, amount to 3.1% of the overall outstanding equity of the company.
Shares changed hands at ₹1,820 per share, taking the total transaction value to nearly ₹5,700 crore.
Buyers and sellers within the transaction are not immediately available.
According to the term sheet, accessed by CNBC-TV18, Singtel's unit Pastel, is likely was likely to sell stake through the 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. The transaction has taken place above the floor price.
There will also be a lock-up of 60 days for the further selling of shares.
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 are down 2.6% after the transaction at ₹1,818. The stock though had closed near its all-time high of ₹1,917 on Thursday. The stock had gained 17% so far in 2025 as of Thursday's close, featuring among the top gainers on the Nifty 50 index year-to-date.Continue ReadingFirst Published: May 16, 2025 7:57 AM ISTCheck 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