Airtel promoter to sell shares, raise $1.1B
Bharti Airtel's promoter, Indian Continent Investment, is set to sell 50 million shares (0.8% of Airtel) via a block deal on Friday at ₹1,862 per share—a 3.15% discount to Thursday's closing price of ₹1,924 per share.
This move could bring in up to ₹9,310 crore (about $1.1 billion).
Major stake shift, but no control change
After the sale, Indian Continent's stake drops from 2.47% to 1.67%, but the promoters still keep over half of the company—so control isn't changing hands.
The main goal here: free up some cash without shaking things up at the top.
Airtel's stock story
Airtel is on a roll—shares are up nearly 20% this year and over 33% in the past year, thanks to strong results from both India and Africa operations.
With average revenue per user rising and big strides in cutting debt and boosting cash flow, things look solid.
Looking ahead: Airtel's plans for public listing
This sale fits into bigger plans: Airtel wants to take its payments bank and data center units public in the next couple of years and unlock more value from its fiber business—all aimed at fueling future growth.