Page 5 of Wipro

Bharti Airtel’s foreign promoter Singtel will sell 0.8% stake in the Indian telco for Rs 10,300 crore through a block deal on Friday. This will be executed at a floor price of Rs 2,030 per share, with JP Morgan India as the placement agent. The transaction, expected to settle on November 10, includes a lock-up period of 60 days. Singtel’s subsidiary, Pastel, is the largest foreign promoter in