Bharti Airtel Block Deal: 5.11 cr shares worth Rs 8485 cr sold by THIS promoter

Bharti Airtel Block Deal Today: Bharti Airtel on Tuesday said that Indian Continent Investment Limited (ICIL), a promoter-group entity of Bharti Airtel Limited, has sold 0.84 per cent shareholding (5.11 crore shares) through a market transaction.

The equity shares were sold for an aggregate amount of Rs 8,485.11 crore, the company said in a filing.

Bharti Telecom Limited, the promoter of Airtel, anchored the trade by acquiring 1.20 crore shares, 24 per cent of Indian Continent Investment's sale. This helped the overall book to be allocated only to key marquee long only names, both global and domestic.

The transaction follows Bharti Telecom’s recent acquisition of an additional 1.2 per cent stake (7.31 crore shares) in Airtel from Indian Continent Investment in November 2024.

With this, Bharti Telecom now holds 40.47 per cent of Airtel, reinforcing its previously stated intent of strengthening its position as the principal vehicle to hold controlling stake in Airtel, remaining focused on gradually increasing its stake while maintaining a prudent leverage profile as it does so.

Meanwhile, Airtel shares on shares on Tuesday (Feb 18) traded 1 per cent lower at Rs 1660 around 11:10 AM. As many as 38.56 lakh equities changed hands around the same time.

Gurugram headquartered Bharti Airtel is the second largest mobile network operator in the country.

Airtel during Q3 FY2025 reported more than five-fold jump in consolidated net profit to Rs 16,134.6 crore. The profit was boosted by consolidation of the Indus Tower business and benefits of tariff hikes flowing into the quarter. The company had earned a consolidated profit of Rs 2,876.4 crore in the year-ago period. The quarterly revenue from operations stood at Rs 45,129.3 crore, about 19 per cent higher than Rs 37,899.5 crore it posted in the year-ago period.

Airtel's average revenue per user (ARPU), a key financial performance metric, rose to Rs 245 in the December quarter from Rs 208 in the year-ago period.