Bharti Airtel CEO sells stake in firm to Bharti Telecom | business-news | Hindustan Times
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Bharti Airtel CEO sells stake in firm to Bharti Telecom

Bharti Airtel’s promoter Bharti Telecom has been buying shares of Airtel from time to time.

business Updated: Aug 10, 2017 23:59 IST
A Bharti Airtel office building is pictured in Gurugram on the outskirts of New Delhi.
A Bharti Airtel office building is pictured in Gurugram on the outskirts of New Delhi.(Reuters)

Bharti Airtel MD and CEO Gopal Vittal on Thursday sold 1.21 lakh shares of the company to promoter firm Bharti Telecom for over Rs 5 crore.

According to the block deal data available with the NSE, the shares were offloaded at an average price of Rs 416.05 apiece, valuing the transaction at Rs 5,03,42,050.

Vittal of Bharti Airtel disposed of 1.21 lakh shares in the telecom major, according to the data.

The shares were bought by Bharti Airtel’s promoter firm Bharti Telecom through an open market transaction.

“Bharti Telecom Ltd (BTL), the promoter of Bharti Airtel has been buying shares of Airtel from time to time.

“Gopal Vittal, MD & CEO, Airtel was selling a part of his ESOPs and BTL offered to buy the same,” a Bharti Airtel spokesperson said.

ESOP stands for Employee Stock Option Plan.

Shares of the telecom major ended the day 0.08 per cent up at Rs 416.40 on the NSE.