As per industry sources, Singapore Telecommunications’ (Singtel’s) subsidiaries – Pastel Limited and Viridian Limited – have sold around 1.76 per cent stake in Bharti Airtel through block deals, aggregating around Rs 71.48 billion. Meanwhile, a large chunk of these shares have reportedly been acquired by Bharti Telecom Limited (BTL).
According to NSE block deal data, Pastel Limited has offloaded 93.1 million shares (1.58 per cent) of Airtel’s equity at Rs 687.31 per share to BTL, aggregating Rs 63.99 billion. In addition, Viridian Limited, is believed to have sold over 10 million shares of Airtel. Assuming the Viridian Limited block deal was done at the same price, the shares were sold for around Rs 7.50 billion.
However, the block deal data, though, shows that BTL bought a total 96.2 million shares in Airtel for Rs 66.04 billion. Meanwhile, the balance 7.8 million shares were acquired by the public, which in turn, has marginally boosted the public holding in Airtel.