Singtel's Pastel to sell 0.8% stake in Bharti Airtel in block deal
Published on 15/05/2025 06:45 PM
Singtel's Pastel to sell 0.8% stake in Bharti Airtel in block dealThe stake sale will be offered at a floor price of ₹1,800 per share, reflecting a 3.6% discount to Airtel’s last closing price.By Vivek Iyer May 15, 2025, 6:45:46 PM IST (Published)1 Min ReadSingtel's subsidiary Pastel is set to sell a 0.8% stake in Bharti Airtel through a block deal, with a total offer size of ₹8,568 crore.
The stake sale will be offered at a floor price of ₹1,800 per share, reflecting a 3.6% discount to Airtel’s last closing price. Bharti Airtel share price closed at ₹1,863.10 apiece, higher by 1.58% on the NSE.
The deal will be managed by JP Morgan, the designated broker for the transaction. Pastel currently holds a 9.49% stake in Bharti Airtel and this sale will reduce its holding by just under 1%.
The deal also includes a 60-day lock-in period, which means that Pastel will be restricted from selling additional shares in Airtel for the next two months.Continue Reading(Edited by : Ajay Vaishnav)Check 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 AirtelSingTel