By Admin 
On Friday, Bharti Airtel’s shares saw a big stir. About 3.1 million shares were transacted, that is, the company’s 1.3 per cent stake was purchased and sold in a single day. All these shares were sold on an average at a price of Rs 1,820 per share, which was about 2.5 percent cheaper than Thursday’s closed price.
Singtel of Singapore reduced stake
The telecom company of Singapore, Singtel, was behind this movement, which reduced its stake in Airtel through its investment unit Pastel. Till the March quarter, Pastel had a 9.49 per cent stake in Airtel, out of which about 1.2 per cent stake has now been sold. The deal took place for about 2 billion dollars (about Rs 16,600 crore) and was sold to India and international institutional investors through private placements.
What did CFO of Singtel say?
After this deal, Singtel’s Group Chief Financial Officer Arthur Lang said, “Through this deal, we are earning profits on good valuation, while our strong stake in Airtel will remain a strong stake. He further stated that this sale is part of the Singtel28 growth plan, which focuses on disciplined use of capital and long-term returns to shayholders.
Singtel will still remain a big investor
Even after this deal, Singtel will have a 28.3 per cent stake in Airtel, the total value of which is estimated to be around $ 48 billion (about 2.96 lakh crore). Singtel has made a profit of $ 1.4 billion from this deal.
Airtel’s bang performance
On 13 May, Airtel declared the results of the March quarter (Q4Fy25) and surprised everyone. The company’s consolidated net profit reached 11,022 crore, which is 432 percent more than 2,072 crore in the same quarter last year. The company’s revenue was with a growth of 47,876 crore, 27 per cent. At the same time, the average earning per user was Rs 245, which was Rs 209 last year. Along with this, the company has also declared a final dividend of Rs 16 per share for FY25.
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