Airtel Promoter Group entity sells 0.56% stake for Rs. 7,200 crore to institutional investors

Indian Continent Investments Limited (ICIL), part of Bharti Airtel’s promoter group, has raised Rs. 7,200 crore sold 34.30 million shares representing a 0.56% stake in the telecom major, the company informed stock exchanges on Tuesday.

According to regulatory filings, the block deal involved the sale of 34.30 million shares on November 26, 2025.

“The transaction saw strong interest and orders received from domestic and international long-only investors. Both new and existing Airtel shareholders participated, with a majority of the allocation going to long-only investors,” ICIL said.

ICIL holds around 1.48% stake in Airtel as of September 2025, and this latest transaction brings the promoter entity’s stake below 1%. The shares were offered at a floor price of Rs 2,096.7 per share, representing a 3% discount to Airtel’s closing price of Rs. 2,161.6 on the NSE on Tuesday.

After the sale, Airtel shares fell 1.56% on the BSE on Wednesday to Rs. closed at 2,127.10.

As per the term sheet of the deal, Goldman Sachs (India) Securities acted as the sole placement agent for the sale.

In its disclosure, Mauritius-registered ICIL said the transaction is in line with the Bharti Group’s publicly stated strategy. Bharti Telecom Limited, a Bharti-controlled subsidiary and lead promoter of Airtel, will continue to serve as the main vehicle holding a controlling stake in the company.

The company reported a 6% quarter-on-quarter increase in consolidated EBITDA in the second quarter on the back of strong India Wireless and Airtel Africa performance with consolidated free cash flow of ₹14,600 crore.

This follows a similar move earlier this month when Singapore Telecommunications Ltd sold about 0.8% stake in Airtel as part of its effort to restructure holdings in regional telecom ventures, ET reported earlier.