An affiliate of Qatar Foundation Endowment will sell its 5 percent stake in Indian telecoms carrier Bharti Airtel Ltd for about 95 billion rupees ($1.46 billion) in block deals on Wednesday, according to a term sheet.
The affiliate, Three Pillars Pte Ltd, has put up about 199.9 million shares for sale in a price range of 473-490 rupees each, the term sheet showed.
The price range is a discount of 4.7-8 percent to the stock’s Tuesday closing price of 514.35 rupees on the National Stock Exchange.
UBS is the handling the planned sale.
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