Airtel promoters to sell shares worth over Rs 9,000 crore in block deal

Promoters of Bharti Airtel are set to offload shares worth up to Rs 9,310 crore ($1.06 billion) through a secondary share sale via block deal on Friday according to a company filing to the exchanges.

The proposed transaction will be executed by Indian Continent Investment, a promoter group entity. The share sale will involve up to 50 million equity shares, which accounts for approximately 0.8% of the company’s total equity base, the report said.