Overview
- Pastel will offer about 50.1 million Bharti Airtel shares for Rs 10,300 crore, setting a floor price of Rs 2,030 per share at roughly a 3.1% discount to Thursday’s close.
- JP Morgan India is the placement agent, with the block to trade on local exchanges on Friday, settlement slated for November 10, and a 60‑day lock‑up.
- Pastel is Airtel’s largest foreign promoter entity with a 8.32% stake before the transaction.
- The sale follows a May 16 divestment of 1.2% for Rs 8,568 crore at a Rs 1,800 floor, continuing a steady reduction from 9.49% ownership as of March 31.
- Airtel’s strong Q2 FY26 performance forms the backdrop, with consolidated net profit up 89% year on year to Rs 6,791.7 crore and revenue at Rs 52,145 crore.