Mumbai, May 16 -- Singtel said it sold approximately 1.2% of its direct stake in regional associate Airtel today (16 May 2025) for S$2.0 billion as part of its active capital management approach to optimise its asset portfolio and drive shareholder returns sustainably.

The media reported that Pastel, a unit of Singtel, sold 7.1 crore shares in Airtel at Rs 1,814 each, reflecting a 2.83% discount to the closing price of Airtel's stock on Thursday.

"The transaction was executed via a private placement to international and Indian institutional investors, including existing shareholders of Airtel. The private placement received strong interest from existing shareholders and new investors and was well oversubscribed, resulting in both an inc...