Indian Continent Investment Limited (ICIL), a promoter-group entity of Bharti Airtel Limited, has today sold 0.84% shareholding (5.11 Cr shares) in Airtel through a market transaction, for an aggregate amount of Rs 8,485.11 Cr.
- Bharti Telecom Limited (BTL), the promoter of Airtel, anchored the trade by acquiring 1.20 Cr. shares (24% of
ICIL’s sale)- This transaction follows BTL’s recent acquisition of an additional 1.2% stake in Airtel from ICIL in November 2024. With this, BTL now holds 40.47% of Airtel.
- Balance shares were acquired up by global and local marquee investors including GQG Partners, Fidelity, Lazard, ICICI Prudential MF and SBI Life
Sale amount is likely to be used by the promoters to refinance the loan taken to fund Bharti Group’s recent 24.5% stake buy in London-based BT Group, formerly British Telecom (BT).