Singtel announced on November 7, 2025, that it has sold about 0.8% of its direct stake in regional associate Airtel through a private placement to institutional investors. The sale generated S$1.5 billion for Singtel and is expected to result in a gain of S$1.1 billion.
Arthur Lang, Singtel’s Group Chief Financial Officer, commented on the transaction: “Singtel has been working closely with Bharti Enterprises to gradually equalise our effective stake in Airtel over time. These transactions allow us to unlock value when appropriate, yet continue to retain a significant stake in Airtel and remain invested in India’s burgeoning digital economy. With this transaction, our active capital management programme has generated S$5.6 billion, more than half of our new mid-term asset recycling target of S$9 billion. This gives us the financial flexibility to strengthen our balance sheet, fund growth opportunities in digital infrastructure and digital services while ensuring that we can continue to grow dividends on a sustainable basis.”
Earlier this year, Singtel had surpassed half of its previous S$6 billion mid-term asset recycling target set the year before and subsequently raised the goal to S$9 billion. The funds from these activities are intended for both business growth initiatives and capital returns through dividends and share buybacks.
After completing this latest sale, Singtel will retain a 27.5% stake in Airtel, which is valued at around S$51 billion.
