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10h ago

Airtel Promoter ICIL To Sell 34.3 Million Shares for Rs 7,193 Crore in Block Deal

The placement extends a months-long sell-down by major holders despite a roughly 35% year-to-date share price gain.

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Overview

  • The term sheet sets a floor price of Rs 2,096.70 per share, about 3% below Tuesday's close.
  • The sale equals roughly 0.56% of Bharti Airtel's equity and is valued at about $806 million.
  • Goldman Sachs (India) Securities is named as the sole placement agent for the transaction.
  • ICIL held about 1.48% as of September and will fall below 1% after the trade, with a 90-day lock-up on the remainder.
  • Promoters owned 50.27% in September; shares closed about 0.5% higher Tuesday and are up roughly 35–36% this year, following earlier stake sales by Singtel.