Singtel unit offers to sell $1.5 billion stake in Bharti Airtel, terms show
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Shares of Bharti Airtel have rallied more than 30 per cent in 2025.
PHOTO: REUTERS
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SINGAPORE – A Singtel unit offered to sell shares in Indian mobile carrier Bharti Airtel in a deal that may fetch 103.5 billion rupees (S$1.5 billion), terms of the offering show.
The unit, Pastel, offered to sell 51 million shares, or a stake of 0.8 per cent in Bharti, at a floor price of 2,030 rupees each, according to terms of the deal seen by Bloomberg.
The price represents a 3.1 per cent discount to the stock’s closing price in Mumbai on Nov 6.
The transaction will occur on local bourses on Nov 7, with the settlement expected on Nov 10, and there is a lock-up of 60 days, according to the terms. JPMorgan Chase & Co is the sole broker.
Shares of Bharti Airtel have rallied more than 30 per cent in 2025, making the firm the third-biggest member of the benchmark Nifty 50 index by market value. BLOOMBERG
