Bulk Deal Alert
Bharti Airtel Sees Shift in Ownership: Singtel Sells Stake to GQG for Rs 5,849 Crore.
On March 7, Singapore telecom company Singtel sold 0.8 percent of Bharti Airtel to Rajiv Jain’s GQG Partners for Rs 5,849 crore. The block transaction kept Bharti Airtel shares steady in early trade, recouping losses.
The block transaction involved 4.9 crore shares, or approximately 1% of the firm. Bharti Airtel shares traded at Rs 1,199.90 on the NSE at 10.08 am.
In an interview with Moneycontrol on February 27, Bharti Enterprises Chairman Sunil Bharti Mittal claimed Bharti Airtel’s ARPU was the highest in the industry but needed to reach Rs 300.
The first pitstop cost Rs 200. Five to six years. However, it has taken longer and expenditures have increased. inflation existed. Thus, Rs 300 may be appropriate today. At least get there. He suggested we had a tiny edge over the competitors.
GQG’s main India investments include Bharti Airtel and ITC, which it owns $1,060 million in as of December 2023.
Other major investments include ICICI Bank ($403 mn), Adani Enterprises ($437 mn), State Bank of India ($345 mn), Adani Ports ($329.2 mn), and Adani Green Energy ($396.1 mn
GQG’s EM fund includes Sun, Pharma, HDFC Bank, Adani Power, and NTPC.
M&M Announces Block Deal: Promoter Set to Offload Shares Valued at Rs 2,184 Crore
After a block sale on March 7 for 1.1 crore shares, or 0.9 percent of Mahindra, shares fell almost 4 percent to Rs 1,884.
Rs 2,184 crore was raised through the share sale at a floor price of Rs 1,924.
On March 6, Moneycontrol stated that Prudential Management and Services Private (PMSP) Ltd., the promoter group business, was considering a block offer to generate $215 million by selling 0.75 percent of the firm.
Exchange data reveals M&M’s promoter group owns 19.32% of the firm. PMSP owns 11.64 percent of the tractor-SUV producer.
ICICI Prudential Asset Management Company and ICICI Prudential Mutual Fund bought 9,48,000 equity shares (2.02% of paid-up equity) in multi-channel auto platform for Rs 738.5 each, valuing it at Rs 70 crore.
Cartrade Tech fell 3.27 percent to Rs 721.05.
Florintree Advisors’ Mathew Cyriac bought 32,50,000 RBL Bank shares, 0.53 percent, at Rs 250.91.
After closing at Rs 252.5, RBL Bank shares fell 1.31 percent.
Promoter Bajrang Kumar Gupta sold 5,00,000 Dollar Industries shares, 0.88 percent, at Rs 490 each. As of December 2023, Bajrang Kumar owned 1.24 percent of the firm.
At Rs 490 a share, Fidelity Funds Asian Smaller Companies Pool bought 3,63,221 Dollar Industries shares, 0.64 percent.
Dollar Industries shares rose 7.63% to Rs 529.
Must read book about investing – check here