Airtel Share Price Drops as Promoter ICIL to Sell 3.43 Crore Shares Worth ₹7,195 Crore
Bharti Airtel’s share price witnessed a decline today. The primary reason behind the fall is the announcement by promoter company Indian Continent Investment Ltd (ICIL) to sell a part of its stake in the telecom giant.
According to reports, ICIL is preparing to offload around 3.43 crore shares, valued at approximately ₹7,195 crore. After this major block deal, the promoter’s overall stake in Airtel will drop to below 1%.
Interestingly, this decision comes right after Airtel posted strong second-quarter results. Despite the company’s impressive performance, the news of stake sale has affected investor sentiment, leading to a dip in the Airtel share price.
Shares after selling:ICIL
Bharti Airtel’s share price witnessed a decline today. The primary reason behind the fall is the announcement by promoter company Indian Continent Investment Ltd (ICIL) to sell a part of its stake in the telecom giant.
According to reports, ICIL is preparing to offload around 3.43 crore shares, valued at approximately ₹7,195 crore. After this major block deal, the promoter’s overall stake in Airtel will drop to below 1%.
Interestingly, this decision comes right after Airtel posted strong second-quarter results. Despite the company’s impressive performance, the news of stake sale has affected investor sentiment, leading to a dip in the Airtel share price.
