Singtel Sells 1.2% Stake in Bharti Airtel, Gains USD 1.54 Billion From Deal

Singapore’s telecom company, Singtel, has sold a 1.2 per cent stake in India’s Bharti Airtel for about USD 1.54 billion (SUSD 2 billion). The deal was done through its unit, Pastel, which sold 71 million Airtel shares at Rs 1,814 each. This price was around 2.85 per cent lower than Airtel’s closing price the day before.

After this sale, Singtel’s share in Airtel has come down to 28.3 per cent from 29.5 per cent. Even after the sale, Singtel still holds a large stake in Airtel, now worth about SUSD 48 billion.

Singtel made a profit of SUSD 1.4 billion from the deal. The company said the money will help it focus on key business areas and return value to shareholders. Singtel has been a part of Airtel for more than 20 years and says it still believes in the company’s future.

Arthur Lang, Singtel’s Group CFO, said the sale was a chance to make money at a good value while still being a major shareholder. He added that new investors who believe in Airtel’s growth also took part in the deal. Most of the buyers were Indian mutual funds and international funds that invest for the long term.

This sale follows earlier deals in 2022 and 2024, where Singtel sold smaller stakes in Airtel and raised about SUSD 3.5 billion. That money helped support Singtel’s 5G and digital projects.

Even after the latest sale, Singtel says it is still fully committed to Airtel’s long-term success.

Meanwhile, Bharti Airtel’s stock dropped 2.8 per cent after the news, trading at Rs 1,816.3. Earlier this week, Airtel reported a big jump in its profits — a 432 per cent rise to Rs 11,022 crore in the last quarter — thanks to strong business growth in India and Africa.