Bharti Telecom Limited (BTL), a major stakeholder in Bharti Airtel, has augmented its ownership in the telecom giant through a block deal on the National Stock Exchange (NSE), involving an aggregate sum of Rs 8,301.73 crore. The transaction saw BTL acquiring an additional 1.35% stake in the telecom operator from Indian Continent Investment Limited (ICIL). Following this deal, BTL now commands a 39.59% stake in Bharti Airtel, while ICIL’s stake has diminished to 4.56%.
Bharti Airtel, positioned as the second-largest telecom company in India, leads the wireless mobile services segment with the highest Average Revenue Per User (ARPU) among its competitors. The company is a prominent player in the postpaid mobile business, serving both individual customers and enterprises through its network services. Additionally, Airtel operates a substantial Business-to-Business (B2B) division under the brand Airtel Business, collaborating with major technology firms to provide cutting-edge digital solutions to enterprises.
As of December 2nd, Airtel’s shares closed at Rs 1,012, having reached a record high of Rs 1,022. The notable performance of Bharti Airtel’s stock over the past month has significantly increased the company’s valuation. Amid its robust performance, Bharti Airtel is actively deploying 5G infrastructure nationwide and has introduced its 5G Fixed-Wireless Access (FWA) service, Airtel Xstream AirFiber, initially available in Delhi and Mumbai.
With an elevated capital expenditure (capex) initiative, Bharti Airtel aims to raise funds through rights issue proceeds to settle deferred dues from the 2015 spectrum auctions, amounting to around Rs 12,000 crore. Clearing this debt is anticipated to reduce interest costs for Airtel.
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