Mittal Family Sells Airtel Shares Worth ₹8,485 Crore

Sunil Bharti Mittal's family firm, Indian Continent Investment Ltd, has sold Airtel shares valued at approximately ₹8,485.11 crore in a significant market transaction. Following this, Bharti Telecom acquired about 1.2 crore shares, increasing its stake in Bharti Airtel to 40.47%, as part of a strategy to strengthen control over the telecom giant. The sale attracted a diverse group of investors, including prominent mutual funds and international entities like Goldman Sachs and the Abu Dhabi Investment Authority, reflecting confidence in Airtel's market potential. The transaction aligns with Mittal's broader strategy of exploring opportunities outside India, including investments in Africa and satellite ventures. The shares were sold at a slight discount to the market price, highlighting the demand for Airtel shares. This move is part of Mittal's ongoing efforts to balance investment in Airtel while pursuing new business avenues.