Singtel Sells 1.2 Percent Stake in Bharti Airtel for SGD 2 Billion

Singapore Telecommunications (Singtel) has sold approximately 1.2 percent of its direct stake in regional associate Bharti Airtel for SGD 2.0 billion, as part of its ongoing capital management strategy aimed at optimising its asset portfolio and enhancing shareholder returns, the company announced on Friday.

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Also Read: Singtel to Offload USD 1 Billion Stake in Bharti Airtel via Block Deal

Stake Sale Amidst Strong Investor Demand

The transaction was executed through a private placement to a mix of international and Indian institutional investors, including existing Airtel shareholders. According to Singtel, the offering drew strong interest and was significantly oversubscribed, prompting an increase in transaction size and tighter final pricing compared to initial guidance. A large majority of the placement was taken up by domestic mutual funds and international long-only funds.

Also Read: SingTel Plans to Sell Stake in Bharti Airtel via Rs 8,500 Crore Block Deal

Commitment to Airtel Remains Intact

Singtel Group Chief Financial Officer Arthur Lang said, “This transaction allows us to crystalise value at an attractive valuation while remaining a significant shareholder of Airtel. We are pleased to welcome new like-minded investors who share our conviction in Airtel’s strong growth potential as India pursues its vision of achieving a USD 1 trillion digital economy. This will further strengthen Airtel’s shareholder base so that we can collectively support its long-term growth.”

Lang added that the divestment reflects Singtel’s disciplined approach to capital allocation and its commitment to sustainable value creation for shareholders. “This is a key tenet of our Singtel28 growth plan, where we’ve identified active capital management and the financial flexibility it brings, as integral to funding growth initiatives while supporting capital returns.”