Promoter Stake Sale in Bharti Airtel, MapmyIndia’s Zepto Investment, and AU Small Finance Bank’s Universal Bank Transition

Indian Continent Investment, a promoter entity of Sunil Bharti Mittal, plans to sell up to 50 million shares (0.8% equity) in Bharti Airtel for Rs. 9,310 crore ($1.1 billion) via a block deal on Friday. The offer floor price is set at Rs. 1,862 per share, a 3.15% discount to Thursday's closing price. Jefferies and JP Morgan are managing the placement. The promoter group's stake will reduce from 51% post-transaction.

MapmyIndia has acquired a strategic stake in quick commerce firm Zepto at a pre-money valuation of $5.8 billion. CE Info Systems, MapmyIndia's parent, will invest Rs 25 crore in compulsorily convertible preference shares (CCPS) at Rs 33.25 per share.

The Reserve Bank of India granted in-principle approval to AU Small Finance Bank to transition into a universal bank, marking a significant milestone since its SFB license in 2015.