A unit of Singapore Telecommunications Ltd (SingTel) is set to divest part of its shareholding in Bharti Airtel Ltd, India’s second-largest mobile carrier, in a deal that could raise as much as 103.5 billion rupees (US$1.2 billion or RM4.88 billion), according to terms seen by Bloomberg.
The SingTel unit, Pastel Ltd, plans to offload 51 million shares — representing approximately 0.8% of Bharti Airtel’s total share capital — through an open market transaction. The shares are being offered at a floor price of 2,030 rupees apiece, which is about a 3.1% discount to the company’s last closing price on Thursday in Mumbai.
The sale is scheduled to take place on Friday (Nov 8) on India’s local bourses, with settlement expected by Nov 10. A 60-day lock-up period will apply following the completion of the transaction. JPMorgan Chase & Co is acting as the sole broker for the deal.
Bharti Airtel’s stock has seen a strong performance in 2025, gaining more than 30% year-to-date, driven by steady subscriber growth, network expansion, and improving average revenue per user (ARPU). The company currently ranks as the third-largest constituent of India’s benchmark Nifty 50 Index by market value.
The move by SingTel comes as the Singaporean telecoms group continues to rebalance its portfolio and unlock capital from long-term investments, aligning with its broader strategy to enhance shareholder returns and reinvest in high-growth digital infrastructure and regional ventures.
SingTel has been a long-term strategic investor in Bharti Airtel, holding a significant stake through its various subsidiaries since the early 2000s. Despite this partial sell-down, analysts expect the Singapore-based group to retain its long-term partnership with the Indian telecommunications giant, which remains a key asset in SingTel’s regional portfolio.
