Block deal: Bharti Airtel sheds 3% as Rs 16,000 crore worth shares change hands

Bharti Airtel Ltd dropped 3 per cent in Friday's trade amid heavy turnover on the counter, as a promoter group entity likely sold 0.8 per cent stake in the telecom operator for an estimated Rs 9,300 crore. The stock fell 2.89 per cent to hit a low of Rs 1,868.70 on BSE. It clocked a cash turnover of Rs 14,001 crore on NSE by 9.22 am, in addition to Rs 2,143.35 crore turnover on BSE.

A Sunil Mittal-led promoter group entity Indian Continent Investment Ltd (ICIL) was looking to sell 5 crore shares at a floor price of Rs 1,862 per share, which was at a 3 per cent discount to Thursday’s closing price of Rs 1,922.60 apiece, sources told Business Today.

Post the transaction, ICIL’s holding in Bharti Airtel is seen falling to 1.67 per cent from 2.47 per cent. The overall promoters' stake in Bharti Airtel would stay at over 51 per cent, including shares held through other entities such as Bharti Telecom. Jefferies and JP Morgan were serving as advisors and bankers to the block deal, according to the term sheet accessed by Business Today.

This is ICIL’s second significant stake sale in the past year. In February 2025, the company offloaded a 0.84 per cent stake in Bharti Airtel, raising ₹8,485 crore. At that time, group firm Bharti Telecom Ltd—currently holding 40.47 per cent in Bharti Airtel—picked up around one-fourth of the shares sold.

Bharti Airtel recently posted a strong Q1 performance, driven by robust results in both its India wireless and Airtel Africa operations. “We continue to favour Bharti’s strong execution of its premiumisation strategy. Additionally, with a likely reduction in capex intensity and potential tariff hikes, the company is poised to generate healthy free cash flows,” said Motilal Oswal Financial Services (MOFSL).

JM Financial noted that the monetisation of 5G services and the rollout of Fixed Wireless Access (FWA) offer meaningful long-term upside potential for Bharti Airtel.

Axis Securities also expressed optimism about the company’s outlook. “Over the long term, we expect Bharti Airtel to continue expanding its market share, supported by leading penetration levels and minimal capex needs. Its strong digital portfolio, increasing data consumption per user, and growth across business segments reinforce our positive view. We maintain our BUY rating on the stock,” the brokerage said.