Bharti Airtel to sell shares of one billion dollars in Bharti Telecom, will be Tuesday through block deal sale

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  • Bharti Telecom holds 38.79% stake in Airtel
  • After the block deal, this stake will decrease by 2.75 percent

new Delhi. Bharti Telecom will sell up to $ 1 billion stake in its company Bharti Airtel. The sale will be executed through the secondary market block deal on Tuesday. Bharti Telecom is the holding company of Bharti Airtel. Bharti Telecom currently holds a 38.79 per cent stake in Airtel. After the block deal, this stake will decline by 2.75 per cent. According to the stock exchange, promoters hold 58.98 per cent in Bharti Airtel.



The floor price for the deal will be Rs 558 per share
JP Morgan is working as a placement agent for this sale. It will be 100% secondary market placement. The floor price for this deal will be Rs 558 per share. The floor price has been fixed at a discount of 6% against the May 22 price of Rs 593.20 on the NSE. The closing of the book has been done for this deal on Monday evening. Deal will be on Tuesday. And the settlement will be on 28 May.



The block deal will have 150 million shares, the transaction
block deal will be about one billion dollars. It will have a deal of 150 million shares. This is equivalent to 2.75 per cent stake in Bharti Airtel as on 31 March 2020. Those who buy shares from the block deal will not be able to sell it for 90 days. The company, however, did not guarantee the bid entered in the block deal to be executed. Because this Indian stock exchange will be based on different terms.

Also Read: Bihar Board BSEB 10th result today: Time and websites to check score

The post Bharti Airtel to sell shares of one billion dollars in Bharti Telecom, will be Tuesday through block deal sale appeared first on informalnewz.



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