Singtel sells Bharti Airtel stake worth Rs 5,849 crore to Rajiv Jain's GQG; shares flat

In Q3FY24, Bharti Airtel reported a net profit of Rs 2,442.2 crore growing 54 percent from the same quarter a year ago. Revenue also grew 6 percent year-on-year to Rs 37,900 crore.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Singapore telecom operator Singtel said on March 7 that it has sold 0.8 percent equity stake in Bharti Airtel to Rajiv Jain's investment firm GQG Partners, for Rs 5,849 crore. Shares of Bharti Airtel traded flat in early trade, recouping opening losses, after the block deal.

Around 4.9 crore shares, representing nearly 1 percent stake of the company changed hands in the block deal. At 10.08 am, shares of Bharti Airtel was trading at Rs 1,199.90 on the NSE.

Follow our market blog for live updates

In an interview with Moneycontrol on February 27, Bharti Enterprises Chairman Sunil Bharti Mittal had said that the ARPU (Average Revenue Per User) of Bharti Airtel was the highest in the industry but needs to be at the Rs 300 level.

"First pitstop was Rs 200. That’s taken five to six years. But it’s taken a long time, and the costs have gone up… inflation has been there. So, Rs 300 is probably relevant today or not. But at least let’s get there. We’ve already had a slight premium to the competition," he said.

The stock also gained after brokerage firm Jefferies maintained a buy call on optimism around ARPU estimates.

Also read: Bharti Airtel rallies 4% on strong Q3 earnings, ARPU growth

In Q3FY24, Bharti Airtel reported a net profit of Rs 2,442.2 crore growing 54 percent from the same quarter a year ago. Revenue also grew 6 percent year-on-year to Rs 37,900 crore.

Aside from Bharti Airtel, GQG's top India investments include ITC, in which it holds a stake worth $1,060 million as of December 2023.

ICICI Bank ($403 mn), Adani Enterprises ($437 mn), State Bank of India ($345 mn), Adani Ports ($329.2 mn), Adani Green Energy ($396.1 mn) are other notable investments.

Sun, Pharma, HDFC Bank, Adani Power and NTPC are also part of the GQG's EM fund.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.