Mumbai, February 18, 2025 – Indian Continental Investment Limited, a company controlled by billionaire Sunil Mittal, has sold a 0.84% stake in Bharti Airtel for approximately ₹8,485 crore ($976 million). The stake sale involved the divestment of 51 million shares.
According to an exchange filing, the stake was sold to raise funds. Of the total shares sold, a quarter was acquired by Bharti Telecom Limited, another company affiliated with Mittal. Following this transaction, Bharti Telecom’s stake in Airtel has increased to 40.47%.
In November 2024, Bharti Telecom acquired around 1.2% of Airtel’s stake from Indian Continental Investment Limited. Details regarding other buyers in the recent transaction were not disclosed. The shares were reportedly sold at ₹1,660.46 per share.
Bharti Airtel’s stock closed at ₹1,669.50 on the Bombay Stock Exchange (BSE) on Tuesday, reflecting a 0.36% decline for the day. Over the past year, Airtel’s shares have delivered a 46% return, with a 14% gain in the past six months. The company’s market capitalization currently stands at ₹9.99 lakh crore.
The sale comes when Sunil Mittal focuses on global investments, including his ventures in the satellite communications sector. Last year, Bharti Enterprises acquired a 24.5% stake in UK-based OneWeb, which later merged with Eutelsat in 2023.
No official comments have been made by Airtel or Mittal’s investment entities regarding the future course of their shareholding strategy.
