Bharti Airtel promoter to sell ₹7,200 crore stake via block deal

Bharti Airtel’s shares are set to witness a large block trade on Wednesday with its key promoter entity Indian Continent Investment Ltd (ICIL) to offload around 3.43 crore shares, according to the term sheet of the deal. The transaction is routed through a block deal window.

The sale represents about 0.56% of Airtel’s equity and is valued at roughly $806 million (₹7195 crore) at the offer price. At the floor price of ₹2,096.7 per share, the offer carries a 3% discount to Airtel’s last closing price of ₹2,161.6 on the NSE.