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 a 0.56% stake at around $806 million ( ₹7,191 crore) in the telecom operator, according to deal terms.

The Sunil Mittal-led promoter group entity launched the block deal on Tuesday to offload 34.3 million shares at the offer floor price of ₹2,096.70 apiece, according to the term sheet seen by Mint.

The offer price is a 3% discount to the Tuesday closing of ₹2,161.60 on the National Stock Exchange. The Bharti Airtel stock closed 0.2% higher.

The block deal offer will close on 26 November, with an expected settlement date of 27 November, according to the term sheet. Goldman Sachs (India) Securities Pvt. Ltd has been appointed as the sole placement agent for the deal.

Bharti Airtel and Bharti Enterprises didn't immediately respond to queries emailed on Tuesday evening.

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

Last week S&P Global Ratings upgraded Bharti Airtel's credit rating to "BBB" from “BBB-”, with a positive outlook, on expectations of a strong earnings growth over the next 24 months.

The rating company expects the company’s growth to be driven by its Indian operations, aided by 2-4% increase in subscribers and an average revenue per user (Arpu) growth of 6-8% during the period. The growth would stem from customers' upgrades to higher-priced plans and rising data consumption.

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

Bharti Airtel had 364 million wireless customers as of September 2025, up from 351 million a year earlier. The company reported a revenue of ₹52,145 crore in the September quarter, up 25.7% from a year ago, and 5.4% from the preceding quarter’s ₹49,463 crore. Its revenue was largely driven by an increase in its mainstay mobile services business, with a focus on premium services and growth in Airtel Africa.

Its net profit rose 89% from a year earlier to ₹6,792 crore, helped by lower losses at its associate and joint ventures during the quarter. Lower finance cost also boosted the profit during the quarter. On a sequential basis, Airtel’s net profit rose 14.2% from ₹5,948 crore in the preceding quarter.