Bharti Airtel share price fell over a percent on Tuesday after the telecom company announced that its promoter-group entity Indian Continent Investment Limited (ICIL) sold 0.84% stake in the company. Bharti Airtel shares declined as much as 1.15% to ₹1,656.15 apiece on the BSE.
In a stock exchange filing on February 18, Bharti Airtel said that Indian Continent Investment Limited (ICIL) sold 0.84% shareholding, or 5.11 crore equity shares in Airtel through a market transaction, for an aggregate amount of ₹8,485.11 crore.
Bharti Telecom, the promoter of Airtel, anchored the trade by acquiring 1.20 crore shares, or 24% of ICIL’s sale of today, helping the overall book to be allocated only to key marquee long only names, both global and domestic, it said.
This transaction follows Bharti Telecom’s recent acquisition of an additional 1.2% stake, or 7.31 crore shares in Airtel from ICIL in November 2024.
“With this, Bharti Telecom now holds 40.47% of Airtel, reinforcing its previously stated intent of strengthening its position as the principal vehicle to hold controlling stake in Airtel, remaining focused on gradually increasing its stake while maintaining a prudent leverage profile as it does so,” Bharti Airtel said.
At 10:25 AM, Bharti Airtel shares were trading 0.98% lower at ₹1,659.20 apiece on the BSE.
