Sunil Mittal-led ICIL sells Bharti Airtel’s stake worth ₹7,195 crore

Telecom czar Sunil Bharti Mittal’s family office-owned ICIL on Wednesday raised `7,195 crore by selling a 0.56 per cent stake in Bharti Airtel to long-term investors through an open market transaction. Indian Continent Investment Ltd (ICIL) is one of the promoter entities in city-based Bharti Airtel. According to a regulatory filing, “The transaction attracted strong interest, receiving robust orders from marquee domestic and international long-only investors.

Both new and existing shareholders of Airtel participated, with the placements majorly allocated to long-only investors”. According to the bulk deal data available on the National Stock Exchange (NSE), ICIL offloaded a total of 3.43 crore shares, representing a 0.56 per cent stake in the city-based Bharti Airtel. The shares were disposed of at an average price of `2,097.81 apiece, taking the deal value to `7,195.49 crore.