Block Deals: Indian Continent Investment sells 5.11 crore shares of Bharti Airtel

Indian Continent Investment sells 511.15 lakh shares of Bharti Airtel

Bharti Airtel promoter entity Indian Continent Investment Limited sold 5.11 crore shares of Bharti Airtel Limited at an average price of Rs 1660. Indian Continent Investment Limited's sale represents approximately 0.84 percent (Rs 8485.1 crore) of stake in Bharti Telecom Limited, as per exchange data. Prior to the block deal, it owned a 3.31 percent stake in Bharti Airtel, amounting to more than Rs 20.13 crore worth of shares.

As of February 18, Bharti Airtel shares closed at Rs 1668.40, marking a decline of 0.43 percent. At intraday, the shares had gained as much as one percent following the block deal.

Vanguard International Value Fund acquired 17 lakh shares of Bharti Airtel at  Rs 1660 per share while WhiteOak India Equity Fund VI purchased over 1.04 lakh shares.  Among the largest transactions by other entities, Goldman Sachs Trust II - Goldman Sachs GQG Partners International Opportunities Fund acquired over 10.68 lakh shares. GQG Partners Emerging Markets Equity Fund collectively bought several tranches totalling over 80 lakh shares.

Bharti Telecom Limited, a promoter of Bharti Airtel, purchased over 1.2 crore shares. With this deal, it has increased its holding to about 40.5 per cent stake in Bharti Airtel.

Swan Energy

Bhatia Suresh bought over 2.89 lakh shares of Swan Energy Ltd at Rs 406 per share, while Morning Star Private Trust sold 2.89 lakh shares at the same price. As of February 18, Swan Energy Ltds share price was down 7.62 percent. The stock closed at Rs 408.

TVS Holdings

Aarti Bhatia acquired 16,250 shares of TVS Holdings Ltd at an average price of Rs 8500 per share, with Bhatia Suresh selling the same quantity. At close on February 18, TVS Holdings stock was trading at Rs 8,530, which is around 2.76 percent lower.