Bharti Airtel is set to execute a block deal tomorrow, February 18, 2025, where its promoter entity, Indian Continent Investment Limited, will sell approximately 0.8% of its stake in the telecom giant. The shares will be offered at ₹1,658.80 each, reflecting a 1% discount to the last close price of ₹1,675.55 per share on February 17, 2025.
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The deal involves the sale of 48.2 million shares, equating to around ₹8,000 crore (approximately $922 million USD) at the offer floor price. This will be a secondary sale, with 100% of the shares being sold by the promoter entity. The deal is expected to close on February 20, 2025, and the settlement is scheduled for the same day (T+1).
Notably, the offer excludes Singtel’s involvement, and the shares will be traded through India’s stock exchanges, with the pricing guidance being finalized tomorrow once the shares are crossed on the market. Investors must place orders with the bookrunner or broker, Jefferies India Private Limited, for the transaction, which is separate from normal secondary market trading.
The transaction has been structured with a 180-day lock-up period for the seller, its agents, nominees, or subsidiaries. All orders placed for shares under this deal will be executed exclusively for this transaction and will not be treated as regular market orders.
The expected floor price for the deal is ₹1,658.80 per share, and pricing will not be finalized until the transaction begins. Orders must be executed via the broker on the screen-based trading platform. Further, as February 19, 2025, is a settlement holiday in India, the final settlement will take place on February 20, 2025.
