Singapore’s SingTel may sell stake worth ₹8,500 crore in Bharti Airtel

Singapore Telecommunications Limited (SingTel) is planning to sell its stake in Bharti Airtel through a block deal, CNBC Awaaz has learnt from sources, who added that the estimated value of this transaction is ₹8,500 crore, sources told CNBC AwaazPer the sources, SingTel’s board is expected to meet this week to discuss the proposed stake sale, which is part of its capital management strategy. However, an official response from Singtel on this matter is still awaited.

Before the proposed sale, SingTel holds approximately 30% in Bharti Airtel.

SingTel is a leading communications group offering services such as mobile, broadband, and TV across Asia, Australia, and Africa. In the December 2024 quarter, Bharti Airtel’s promoters reduced their stake from 53.14% to 53.11%, while mutual funds increased their holdings from 10.71% to 11.37%.On Monday, Bharti Airtel’s stock was trading at a decline. At the time of writing, the stock was priced at ₹1,682.25, down by 2.03%. Over the past year, however, the stock has shown impressive growth, rising by 48.12%.

SingTel had earlier sold a 0.8% stake in Bharti Airtel to GQG Partners through a block window deal in March 2024. The transaction was executed at ₹1,193.70 per share. As of September 30, 2024, Singtel’s net debt stood at $7.8 billion. The company is expected to announce its business update for the December quarter on February 19, 2025.

SingTel’s subsidiary, Pastel Limited, holds a 9.5% direct stake in Bharti Airtel, contributing to SingTel’s total interest of 28.9% in the company. SingTel, as highlighted in its investor presentation and annual report, has emphasised its focus on active capital management. The company is also exploring a $6 billion (Singpore dollar) asset recycling pipeline as part of its broader financial strategy.

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