Merrill Lynch arm sells Airtel shares worth Rs1,931 crore
Merrill Lynch Markets Singapore sold 3.87 crore shares, amounting to 0.97% stake, in Bharti Airtel at an average price of Rs499.1 per share
New Delhi: Merrill Lynch on Tuesday offloaded shares worth Rs1,931 crore in telecom operator Bharti Airtel Ltd, through an open market transaction.
According to the bulk deal data available with the BSE, Merrill Lynch Markets Singapore Pte Ltd sold 3.87 crore shares, amounting to 0.97% stake, in Bharti Airtel.
The shares were disposed of at an average price of Rs499.1 apiece, valuing the transaction at Rs1,931.23 crore, the data showed.
At the end of December quarter, Merrill Lynch held 5.09 crore shares of the telecom major.
The shares were bought by SRS Partners (Cayman) LLC.
Bharti Airtel stock settled for the day at Rs496.90 on the BSE, down 1.43% from the previous close.
- #MeToo: Publicis India sacks executive creative director Ishrath Nawaz
- IFC launches $1 billion masala bond programme to aid India investments
- ICICI Securities reports 3.22% rise in Q2 profit at ₹134.22 crore
- Facebook hires Nick Clegg as head of global affairs
- Q2 results: UltraTech Cement standalone profit at Rs 391 crore
Editor's Picks »
- Policy rethink and higher volumes to aid container shippers
- DCB Bank delivers a strong Q2 but pressure on margins foreseen
- Havells India: Rising costs give a jolt to profitability in September quarter
- All’s well at Mindtree, except for high client concentration risk
- India’s rising steel demand is making companies starry-eyed