New Delhi, Aug. 9 -- Indian Continent Investment Ltd, a promoter group entity of Bharti Airtel Ltd, on Friday sold a 1% stake worth about $1.28 billion ( Rs.11,200 crore) in the company, the telecom operator said in an exchange filing.

The Sunil Mittal-led promoter group entity of Bharti Airtel offloaded 60 million shares in total-30 million shares at Rs.1,870.40 apiece and another 30 million at Rs.1,871.95 per share. The sale was at a discount of about 2.7% to Thursday's closing price of Rs.1,922.60.

The transaction received very strong orders from marque domestic and international long-only investors, including both new and existing shareholders of Airtel, the telco said in the filing, citing intimation it received from Indian Contine...