Singtel likely to sell Bharti Airtel shares worth $1 bn via block deal: CNBC-Awaaz

Singtel likely to sell Bharti Airtel shares worth $1 bn via block deal: CNBC-Awaaz

Singapore Telecommunications, commonly known as Singtel, is likely to sell Bharti Airtel shares worth $1 billion through block deal, reported CNBC-Awaaz on May 15 citing sources.

Floor price for the deal has been fixed at Rs 1,800 per share, the channel reported.

Singtel is looking to sell 4.76 crore shares, added CNBC-TV18. JPMorgan is likely to be the broker for the deal.

The floor price represents 3.3% discount to the current market price of the Bharti Airtel stock.

Singtel's stake in Bharti Airtel is a combination of direct and indirect holdings, with its affiliate, Pastel Ltd, holding a direct 9.49% stake, showed exchange data as of March quarter. Bharti Airtel's holding company, Bharti Telecom, is also partially owned by Singtel.

Earlier this week, the telecom operator posted about fivefold jump in consolidated net profit to Rs 11,022 crore in the March quarter, mainly account of tariff hike impact.

Bharti Airtel had posted net profit (attributable to owners of the parent company) of Rs 2,071.6 crore in the same period a year ago.

The company's revenue from operations grew 27% to Rs 47,876.2 crore during the quarter under review from Rs 37,599.1 crore in the March 2024 quarter, it said in a regulatory filing.

Bharti Airtel India's revenue grew 28.8% year-on-year to Rs 36,735 crore.

The average revenue per user -- a key matrix of a telco's business -- grew about 17 per cent to Rs 245 during the quarter from Rs 209 a year earlier.

The India subscriber base grew to 42.4 crore in March 2025 quarter.