Abhinav Kumar
TT&A has acted for broker JP Morgan India on the Singtel unit Pastel’s secondary sale of NR103.5 billion (USD1.2 billion) worth of Bharti Airtel shares.
The transaction involved up to 51 million shares valued at INR2,030 each, comprising a 0.8% stake in India’s second largest telcommunications operator.
“JP Morgan has been our longstanding client and we have assisted them on many similar transactions. The transaction had many complexities which JP Morgan and we addressed together to ensure that the interests of all parties were protected and at the same time, the transaction could be completed in a timely manner,” said Abhinav Kumar, lead partner for TT&A.
The TT&A team comprised partner Kumar and senior associate Indira Satish.
The sale was conducted via one or more share transactions on the screen-based trading platforms of the BSE and the National Stock Exchange.
Mayer Brown Hong Kong acted as the international legal counsel to JP Morgan India.
Bharti Airtel is a leading provider of information and communication technology services in India.
Pastel, the investment arm of Singtel, sold its stake in Bharti Airtel as part of its capital management strategy.
