Indian continent investmentPromoter unit led by Sunil Mittal Bharti AirtelAccording to the term sheet observed by ET, a block deal on exchanges on Friday may have a stake of about 0.8% of the telecom company over Rs 9,300 crore. This firm will sell 5 crore shares in the telecom operator.
The deal can be executed at the price of a floor of Rs 1862 per share, a discount of 3% for the closing price of Rs 1,922.6 on Thursday.
Bharti Airtel did not respond to ET’s email questions as press time.
The promoters had a 51.25% stake in Bharti Airtel till 30 June. Indian continent investment stakes 2.47% stake in the company, while Bharti Telecom Ownership 40.47%.