Mittal-led promoter entity to sell 0.6% stake in Bharti Airtel via bulk deal

Bharti Airtel Ltd’s promoter group entity Indian Continent Investment is set to sell its 0.56% stake for around $806 million ( ₹7,191 crore at the telecom operator as per the terms of the deal).

The Sunil Mittal-led promoter group entity on Tuesday initiated the block deal to sell 34.3 million shares at the offer floor price of $24.3 million. ₹2,096.70 per person according to the term sheet seen by Mint.

The bid price is a 3% discount from Tuesday’s closing. ₹2,161.60 on the National Stock Exchange. Bharti Airtel shares closed 0.2% higher.

According to the term sheet, the block deal offer will end on November 26 and the expected settlement date will be November 27. Goldman Sachs (India) Securities Pvt. Ltd was appointed as the sole placement agent for the deal.

Bharti Airtel and Bharti Enterprises did not immediately respond to emailed queries on Tuesday evening.

As of end-September, Indian Continent Investment held 1.48% of Bharti Airtel.

S&P Global Ratings were upgraded last week Bharti Airtel’s credit rating has been upgraded to ‘BBB’ from ‘BBB-‘ with a positive outlook on expectations of strong earnings growth over the next 24 months.

The rating firm expects the company’s growth to come from its India operations and will be helped by a 2-4% increase in its India operations. There was a 6-8% growth in average revenue per subscriber and per user (Arpu) during the period. Growth will come from customers upgrading to higher priced plans and increased data consumption.

In August, Indian Continent Investment sold a 1% stake worth approximately $1.28 billion ( ₹11,200 crore in the company).

Bharti Airtel had 364 million wireless customers as of September 2025; This figure was 351 million the previous year. The company has reported revenue so far ₹52,145 crore in the September quarter, up 25.7% YoY and 5.4% QoQ. ₹49,463 crore. Its revenue was largely driven by growth in its core mobile services business, which focuses on premium services and growth in Airtel Africa.

Net profit increased by 89 percent compared to the previous year ₹6,792 crore, helped by lower losses in subsidiaries and joint ventures during the quarter. Lower financing costs also boosted profits during the quarter. Airtel’s net profit increased by 14.2% sequentially. ₹5,948 crore in the previous quarter.