Bharti Airtel Promoter Sells Shares for Rs 11,227 Cr

New Delhi, Aug 8 (PTI) Indian Continent Investment Ltd, an entity promoted by billionaire Sunil Bharti Mittal, on Friday divested nearly one per cent stake in telecom carrier Bharti Airtel for Rs 11,227 crore through open market transactions.

Indian Continent Investment Ltd (ICIL) is one of the promoters of Gurugram-based Bharti Airtel.

According to the bulk deal data available on the NSE, Indian Continent Investment Ltd offloaded a total of 6 crore equity shares in two tranches or a 0.98 per cent stake in Bharti Airtel.


The shares were disposed of in the price range of Rs 1,870.40-1,871.95 apiece, taking the combined deal value to Rs 11,227.05 crore.

After the latest transaction, ICIL's holding in Bharti Airtel has come down to 1.49 per cent from 2.47 per cent. Also, the holding of promoters has reduced to 50.27 per cent from 51.25 per cent.

Details of the buyers of Bharti Airtel's shares could not be ascertained on the exchange.

Shares of Bharti Airtel fell 3.28 per cent to close at Rs 1,859.50 apiece on the NSE.