Block Deal: Warburg Pincus affiliate sells 0.3% stake in Airtel for Rs 1,649 cr

Warburg Pincus affiliate, Lion Meadow Investment, has sold a 0.3% stake in Bharti Airtel through a block deal, generating Rs 1,649 crore. Despite the stake sale, Airtel’s stock ended higher due to strong institutional buying. Several funds, including American Funds Insurance and EuroPacific Growth Fund, have acquired stakes in the telecom operator. Airtel’s African business is growing rapidly and has the potential for a separate listing, according to brokerage CLSA, which has a buy rating on the stock. In the March quarter, Airtel reported a YoY increase of 50% in consolidated net profit.