Singtel sells 1.2% stake in Bharti Airtel for S$2 billion via block deal

The transaction was executed on the block deal window of the National Stock Exchange and was a private placement to Indian and international institutional investors, including existing shareholders of Airtel.

Singtel has sold around 1.2 per cent in Bharti Airtel for S$2 billion taking its stake in the Indian telecom operator down to 28.3 per cent, valued at S$48 billion.

The Singapore telecom company, which has been an investor in Airtel for over two decades, said this was “part of its active capital management approach to optimise its asset portfolio and drive shareholder returns sustainably.” The transaction generated an estimated gain of S$1.4 billion.

The transaction was executed on the block deal window of the National Stock Exchange and was a private placement to Indian and international institutional investors, including existing shareholders of Airtel. The exchange data at the end of the day showed that it sold 7.1 crore shares at ₹1,814.08 apiece.

The private placement received strong interest from existing shareholders and new investors and was well oversubscribed, resulting in both an increase in transaction size as well as tighter final pricing than initial guidance, Singtel said. It added that a large portion of the shares was sold to domestic mutual funds and international long-only funds. The exchange data however did not have the names of the buyers.

“This transaction allows us to crystalise value at an attractive valuation while remaining a significant shareholder of Airtel,” Arthur Lang, Singtel’s Group Chief Financial Officer, said in a statement.

Transaction features

The transaction would strengthen Airtel’s shareholder base that would support its long-term growth, he added.

The divestment of stake was a part of its active capital management strategy and a key tenet of ‘Singtel28 growth plan’ he said.

“The divestment underscores Singtel’s commitment to disciplined capital allocation and sustained value realisation for shareholders,” he added. It added financial flexibility to Singtel and was integral to funding its growth initiatives while supporting capital returns.

Singtel has been an investor in Airtel for over two decades and said it has been working with Bharti Enterprises to equalise its effective stake in Airtel in the medium term.

The Singapore firm had previously sold stake in Airtel in 2022 and 2024 to raise S$3.5 billion. The proceeds were used to help support the group’s 5G deployment, digital infrastructure expansion and shareholder distributions.

Published on May 16, 2025