Bharti Airtel block deal: 5.1 crore shares worth ₹8,475 crore change hands; shares flat, check details

A block deal involving 5.1 crore shares of Bharti Airtel, worth ₹8,475 crore took place on the exchanges on Tuesday, with promoter entity Indian Continent Investment being the likely seller. As much as 0.9% stake in the company was sold through the block deals. The floor price for the deal is ₹1,658.80 per share.

During the morning trade, shares of Bharti Airtel was trading 0.23% higher at ₹1,671.7 apiece. However, the stock closed at ₹1,668.40, falling 0.43%.

According to news reports, Indian Continent Investment Ltd, a promoter entity of Bharti Airtel Ltd, was planning to sell 4.82 crore shares, or an 0.8% equity stake in the telecom company, through a block deal.

Jefferies is acting as the merchant banker for the transaction.

SingTel holds approximately 30% in Bharti Airtel after it raised its holding in the telecom major in November. The shares of the Mittal family, however, dipped to 23.7% during the same time.

Post this report, shares of Bharti Airtel tumbled 2.42% on BSE, closing at ₹1,675.55 apiece on Monday.

Bharti Airtel had reported a more than five-fold jump in consolidated net profit to ₹16,134.6 crore for Q3FY25, boosted by the consolidation of the Indus Tower business and the benefits of tariff hikes flowing into the quarter. The company had posted a consolidated profit of ₹2,876.4 crore in the year-ago period.

India's second-largest telecom company posted quarterly revenue from operations of ₹45,129.3 crore, about 19% higher than ₹37,899.5 crore it posted in the year-ago period.

The company’s consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at ₹24,880 crore, while the EBITDA margin was at 55.1%.