Bharti Airtel shares in focus after promoter Indian Continent Investment likely to offload 4.82 cr shares via block deals

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Shares of telecom major Bharti Airtel are likely to remain in focus on Tuesday, February 18, after its promotor group company Indian Continent Investment is expected to offload 4.82 crore shares or about 0.8% stake in the company via a block deal, according to previous ET reports.

Indian Continent Investment is expected to offer them at a floor price of Rs 1,658.80 per share, the report further suggested.


As of December 31, 2024, Indian Continent Investment held a 3.31% stake in Bharti Airtel, amounting to more than 20.13 crore shares, according to BSE shareholding data.

In other news, via an exchange filing, the telecom major also informed that it has secured the new SEA-ME-WE 6 (Southeast Asia-Middle East-West Europe-6, or SMW6) submarine cable in Chennai.


“Bharti Airtel Limited (“Airtel”), one of India’s leading telecommunications service providers, landed the new SEA-ME-WE 6 (Southeast Asia-Middle EastWest Europe-6, or SMW6) in Chennai. The company had already landed the cable in Mumbai on December 30, 2024,” said Bharti Airtel in the filing to the exchanges.

With this, Airtel has further enhanced its network presence with diversified capacity in the submarine cable system globally.Also read: Swiggy with a lot in store also needs profit on menu

The said SubCom, a leading supplier of subsea fiber optic cable data systems responsible for the engineering, manufacture and installation of SEA-ME-WE-6, completed cable landings. The 21,700 Rkm submarine cable system connects India to Singapore and France (Marseille) crossing Egypt through terrestrial cables.

The cable landing, both in Mumbai and Chennai, will be fully integrated with Airtel’s data center arm, Nxtra by Airtel, at its large facilities in the respective cities with an aim to enable global hyperscalers and businesses in the country to access international connectivity and data center services seamlessly.

On Monday, the shares of Bharti Airtel closed 2.4% lower at Rs 1,675.55 on the BSE.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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