Singtel Investment In Bharti Airtel
Singtel arm sells 1.59% stake in Bharti Airtel for Rs 7,261 crore
Pastel Ltd, an entity of Singtel, on Thursday divested 1.59 per cent stake in Bharti Airtel for Rs 7,261 crore through an open market transaction. The stake has been picked by Bharti Airtel's promoter Bharti Telecom Ltd, as per block deal data with the National Stock Exchange (NSE). According to the data, Pastel offloaded 9,40,00,000 shares, amounting to 1.59 per cent stake in the company. The shares were disposed of at an average price of Rs 772.5 apiece, taking the transaction value to Rs 7,261.50 crore. Pastel Ltd is a unit of Singapore Telecommunications Ltd (Singtel). Post this transaction, Pastel's shareholding in Bharti Airtel will decrease to 10.62 per cent from 12.21 per cent. At the end of the June quarter, Pastel held 13.84 per cent stake in the firm, shareholding data with the bourse showed. Bharti Group Chairman Sunil Bharti Mittal's family and Singtel are co-investors in Bharti Telecom Ltd (BTL). In early September, Singtel entities had jointly sold a 1.76 per cen
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Singtel doubles H1 profits to $705 mn propelled by Airtel's performance
The company also credited the outstanding results to the improved performance of regional associates especially Bharti Airtel
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Singtel to increase stake in Bharti Telecom; invest Rs 26.49 billion
Singtel's stake in Bharti Telecom to reach 48.90 per cent after this investment; funds to be used towards debt reduction
 "Singtel to increase stake in Bharti Telecom; invest Rs 26.49 billion")
