The above shares represent 0.8% stake in Bharti Airtel and Indian Continent Investment is expected to offer them at a floor price of Rs 1,658.80 per share, the report said.
Indian Continent Investment held 3.31% or over 20.13 crore shares in Bharti Airtel as on December 31, 2024 according to the shareholding data available on the BSE.
Bharti Airtel shares today ended at Rs 1675.55 on the BSE, down by Rs 41.60 or 2.42% from the Friday closing price.
In another news, the telecom major said that it has landed the new SEA-ME-WE 6 (Southeast Asia-Middle East-West Europe-6, or SMW6) submarine cable in Chennai. The country’s second-largest telco had already landed the submarine cable in Mumbai on December 30, 2024, according to an official statement.
These cable landings were completed by SubCom, a supplier of subsea fiber optic cable data systems which is undertaking the engineering, manufacture and installation activities of SEA-ME-WE-6.The 21,700 route kilometre (Rkm) submarine cable system connects India to Singapore and France (Marseille) crossing Egypt through terrestrial cables. With this, Airtel has further enhanced its network presence with diversified capacity in the submarine cable system globally.“We are delighted to further strengthen our global connectivity by landing one of the largest cable systems into our facilities. This complements our existing network strength of 400,000 Rkms across 50 countries,” said Sharat Sinha, Director & CEO – Airtel Business.
The cable landing, both in Mumbai and Chennai, will be fully integrated with Airtel’s data centre arm, Nxtra by Airtel, at its large facilities in the respective cities to enable global hyperscalers and businesses in the country to seamlessly access international connectivity and data centre services.
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