BHARTIARTL

el share price: Over 5 crore equity change hands in block; stock cracks 4%

share price fell sharply on Friday morning (November 7) on the back of a . According to details available, over 5 crore shares or 0.8 per cent equity changed hands in block deal. According to ET NOW sources, the transactions took place at a floor price of Rs 2,030 per share, which reflects a discount of more than 3 per cent to stock’s last closing price of Rs 2094.90 on NSE. Pastel Limited, a unit of Singapore-based telecom giant Singtel, offloaded its stake. Singtel said that it has sold 0.8 per cent stake for USD 1.5 billion, gaining USD 1.1 billion. Post this, Singtel has retained 27.5 per cent stake. The transaction was facilitated exclusively through JPMorgan India as the sole broker. A 60-day lock-up period will apply post-deal.