The surge is being led by Singapore Telecommunications Ltd’s roughly $1 billion stake sale in Bharti Airtel Ltd, the largest block trade in India so far this year
A wave of secondary share sales in India, driven by a rebound in local equities, is pushing the deal volume to the highest level in nearly nine months.
The surge is being led by Singapore Telecommunications Ltd’s roughly $1 billion stake sale in Bharti Airtel Ltd, the largest block trade in India so far this year. Block deals this week have exceeded $1.6 billion, the biggest amount since late August, according to provisional data compiled by Bloomberg.
The offerings underscore a revival of confidence in Indian equities as geopolitical tensions ease and investors bet on the nation’s strong economy, lower borrowing costs and an improvement in corporate earnings.
The rally has created favourable conditions for large stakeholders to monetise their holdings, with the benchmark index rising more than 4 per cent this week, its biggest advance in nearly a month.
Other sizable transactions this week include Ant Group Co.’s $247 million sale of shares in One 97 Communications Ltd, the parent of digital payments firm Paytm, General Atlantic’s divestment in KFin Technologies Ltd, and sale of JSW Infrastructure Ltd shares by Sajjan Jindal Family Trust.
The pick-up in deal flow has also boosted liquidity on Indian bourses. The combined turnover in the equity cash market surged to about $16 billion on Thursday, the highest in nearly two months.
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Published on May 16, 2025