Singtel Sells 1.2% Stake in Bharti Airtel for ₹13,000 Crore

Telecom company Singtel has sold 1.2% of its shares in India’s major telecom operator Bharti Airtel. The total value of this deal is around ₹13,000 crore (about $1.5 billion USD or 2 billion Singapore dollars).

Singtel said this sale was done to improve its overall business strength and to give better returns to its shareholders. After this deal, Singtel’s total shareholding in Airtel has reduced to 28.3%.

The company also mentioned that the deal received a very positive response from both existing shareholders and new investors. Singtel has been a key investor in Bharti Airtel for almost 20 years, helping the company grow in the telecom sector.

After the news of the deal, Bharti Airtel’s stock fell by 2.8% on the Bombay Stock Exchange (BSE) and ended the day at ₹1,814 per share.