Singapore Telecommunications Ltd (Singtel) has sold a 0.8% stake in Indian telecom giant Bharti Airtel for approximately $1.2 billion, marking a significant move in its ongoing strategy to optimize its portfolio and unlock capital for future growth.
The sale was executed through Singtel’s wholly owned subsidiary, Pastel Ltd, which offloaded 51 million shares in Bharti Airtel via block deals on the Indian stock exchanges. The shares were priced at ₹2,030 apiece — a 3.1% discount to Airtel’s last closing price — and attracted strong institutional interest, with over 55 million shares traded during the session.
This divestment is part of Singtel’s broader S$9 billion asset recycling program, aimed at reallocating capital toward high-growth areas such as data centers, 5G infrastructure, and regional digital services. The company has been actively reshaping its investment portfolio to focus on digital transformation and shareholder value creation.
Following the transaction, Singtel’s effective stake in Bharti Airtel has decreased to 27.5%, down from 31.4% in 2022, though it remains one of the largest foreign investors in the Indian telecom sector. Bharti Airtel, India’s second-largest mobile operator, continues to be a strategic asset for Singtel, especially as India’s digital economy expands rapidly.
Market reaction to the sale was mixed. Bharti Airtel’s shares dipped nearly 4% post-announcement, reflecting short-term investor caution, though analysts noted that the fundamentals of the company remain strong.
Singtel stated that the proceeds from the sale will be used to strengthen its balance sheet, reduce debt, and fund future investments, aligning with its long-term capital management goals.
