Airtel promoter co BTL increases stake in telco to 39.59% via Rs 8,301.73 cr block deal

Bharti Telecom Ltd (BTL), the key promoter company of Bharti Airtel, has boosted its holding in the Sunil Mittal-led telco to 39.59% by acquiring an additional 1.35% stake from another promoter group entity, Indian Continent Investment Ltd (ICIL) through a Rs 8,301.73-crore block deal.

“BTL has acquired 1.35% shares of Bharti Airtel from Indian Continent Investment Limited (ICIL) through block deal mechanism on National Stock Exchange of India Limited for an aggregate amount of Rs 8,301.73 crore,” BTL said in a stock exchange filing Thursday.

Following the latest block deal, ICIL’s stake in Airtel has dipped to 4.56%. As per Airtel’s September quarter shareholding filing, ICIL’s stake in the telco was earlier at 5.93%.

Sunil Mittal’s Bharti Enterprises and Singapore Telecommunications (commonly known as Singtel) own 50.56% and 49.44% respectively in BTL.

Airtel shares were flat at Rs 1015.15 on BSE Friday morning trade.