Bharti Airtel share price is in the spotlight today after a major block deal involving its promoter group entity, Indian Continent Investment (ICIL). The telecom giant’s shares opened at Rs 1,670 in early trade before slipping to a low of Rs 1,652.40. As of the latest update, the stock was trading at Rs 1,651.05, down by 1%.
Rs 8,485 Crore block deal: Key details
On February 18, ICIL, a Sunil Mittal-led promoter entity, offloaded a 0.84% stake in Bharti Airtel through block deals, selling 51.1 million shares for Rs 8,485.11 crore.
According to a report by Nuvama Alt report, foreign institutional investors (FIIs) picked up shares worth Rs 5,300-5,500 crore, while the remaining portion was brought by domestic institutional investors (DIIs).
Major buyers in the deal
A significant portion of the shares, that is, 12 million was acquired by Bharti Telecom (BTL), the key promoter-level holding company of Bharti Airtel. Other major buyers included:
According to the Nuvama report, the block deal saw participation from several major investors. Goldman Sachs Trust II and GQG Partners each acquired 9,099 shares worth Rs 1,510 crore, while SBI Life Insurance purchased 3,012 shares for Rs 500 crore.
Other notable buyers included the National Pension System (NPS) Trust, which picked up 2,711 shares valued at Rs 450 crore, and Vanguard, which bought 1,701 shares for Rs 282 crore. Reliance Trust Institutional acquired 1,561 shares for Rs 259 crore, while Fidelity (All Schemes Combined) invested in 960 shares worth Rs 159 crore.
Additionally, India Acorn Fund purchased 876 shares for Rs 145 crore, followed by Nordea with 858 shares worth Rs 142 crore and Redwheel with 789 shares for Rs 131 crore. Australiansuper added 759 shares worth Rs 126 crore, and ICICI Prudential Mutual Fund bought 723 shares valued at Rs 120 crore. RBC Funds and Ashoka India Equity Investment Trust also participated, purchasing 523 and 471 shares for Rs 87 crore and Rs 78 crore, among other buyers.
Bharti Airtel stock performance
Despite the dip in today’s trading, Bharti Airtel share price has shown strong performance over the past year. The company’s market capitalisation stands at Rs 9.91 lakh crore.
5In the last 5 Days, the share price of Bharti Airtel has seen a decline of over 3% and on One-month performance, the share price of the company have gained nearly 12%.
On a yearly basis, the company has delivered a return of 44% over the past year.
Bharti Airtel Q3FY25 earnings
The company reported a net profit (Consolidated) of Rs 14,781 crore in the third quarter ending December 31, 2024. The total income of the company in the third quarter was Rs 45,599 crore compared to Rs 38,339 crore in the previous quarter.