Bharti Telecom will sell one billion dollar stake in Bharti Airtel, shares will sell on Tuesday through a block deal.
Telecom sector updates-Bharti Telecom currently holds a 38.79% stake in Airtel
⇛Bharti Telecom will sell up to a billion dollars in its company Bharti Airtel. This sale will be given through the secondary market block deal on Tuesday. Bharti Telecom is the holding company of Bharti Airtel. Bharti Telecom currently holds a 38.79% stake in Airtel. After the block deal, this stake will decrease by 2.75%. According to the stock exchange, the total share of promoters in Bharati Airtel is 58.98%.
⇛JP Morgan is working as a placement agent for this sale. This will be a 100% secondary market placement. The floor price for this deal will be Rs.558 per share. There will be 15 crore shares in the block deal.
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