ICIL offloads 0.56 per cent stake in Bharti Airtel

Indian Continent Investment Limited (ICIL), one of Bharti Airtel’s promoter entities, has reportedly sold 34.3 million shares, amounting to a 0.56 per cent stake, for about Rs 71.89 billion. The block trade was executed at a floor price of Rs 2,096.70 a share, roughly a 3 per cent discount to Airtel’s previous close of Rs 2,161.60 on the National Stock Exchange.

Following the sale, ICIL’s holding in Airtel has fallen from 1.48 per cent to 0.92 per cent.