Pastel's Singtel offloads Bharti Airtel shares worth $1 billion in block deal; stock slips 2.6%

Shares of Bharti Airtel worth nearly $1 billion (Rs 5,700 crore) changed hands on May 16 through a large block deal, leading to a 2.6 per cent fall in the stock price. Around 3.1 crore shares, accounting for 3.1 per cent of the company’s total equity, were traded on the exchanges.

Singtel group entity that owns a 9.49 per cent stake in Bharti Airtel as of the March quarter — is the likely seller. The deal was facilitated by JPMorgan, which acted as the broker.

The floor price for the trade was set at Rs 1,800 per share, implying a discount of 3.6 per cent to Thursday's closing price of Rs 1,867. However, the transaction was executed at Rs 1,820 apiece — slightly above the floor but still below the market price.

Airtel stock retreats from record high

Bharti Airtel shares fell 2.6 per cent to Rs 1,818 in Friday’s early trade, cooling off from Thursday’s close near its all-time high of Rs 1,917. Despite today's drop, the stock has gained 17 per cent in 2025 so far, ranking among the top Nifty 50 performers year-to-date.

Lock-in of 60 days imposed on further selling

As per the term sheet, the transaction also includes a lock-up clause of 60 days, restricting any further sale of shares from the seller during this period. This is a standard clause to ensure market stability after a large offloading.

Market awaits clarity on buyer identity

While the seller is largely believed to be Pastel, the identity of the buyers remains undisclosed. The deal, due to its sheer size and above-floor pricing, likely involved institutional investors.

What's next for Bharti Airtel stock?

While the stock may see near-term pressure due to supply overhang, analysts expect long-term fundamentals to remain intact given Airtel’s leadership in the telecom space, strong ARPU growth, and ongoing 5G expansion.