SingTel to sell 47.6 million Airtel shares in Rs 8,568-crore block deal

Bharti Airtel is set for a block deal on Friday, where the promoter entity, Singapore-based Pastel, will offload approximately 0.8% (47.6 million shares) of its stake, according to a term sheet available with FE. Pastel is an indirect wholly owned subsidiary of Singapore Telecommunications (SingTel).

Shares will be offered at a floor price of Rs 1,800 each, reflecting a 3.60% discount to the Thursday’s closing price of Rs 1,867.20 on the NSE, and 3.6% lower than Rs 1,866.80 on the BSE.