Bharti Airtel promoters to offload 0.56% stake to raise Rs 7,200 crore via block deal
Promoters of Bharti Airtel are set to offload a 0.56% stake in the telecom major on Wednesday through block deals, aiming to raise up to Rs 7,200 crore.
Indian Continent Investment Ltd (ICIL), a promoter entity led by billionaire Sunil Mittal, will sell 34.3 million shares at a floor price of Rs 2,096.70 apiece, representing a 3% discount to Tuesday’s closing price of Rs 2,160.75. Following the sale, ICIL’s stake will fall from 1.48% to 0.92%.
