NEW DELHI: Bharti Telecom Ltd (BTL), the one of the largest promoters of Bharti Airtel, increased its stake in the company by 1.35% through a Rs 8,301.73-crore block deal. With this, the stake of the company is increased to 39.59% in Bharti Airtel, the country’s second-largest telecom service provider.
“Bharti Telecom has acquired 1.35% shares of Bharti Airtel from Indian Continent Investment Limited (ICIL) through block deal mechanism on the National Stock Exchange of India Limited for an aggregate amount of `8,301.73 crore,” said the company in an exchange filing.
Now, Sunil Mittal’s Bharti Enterprises and Singapore Telecommunications (commonly known as Singtel) own 50.56% and 49.44%, respectively, in Bharti Telecom. Bharti Airtel from Indian Continent Investment Limited’s stake in Airtel has declined to 4.56% from 5.93% in the quarter ending September 2023. Airtel shares closed slightly lowe at Rs 1,012 on Friday.