Bharti Airtel CEO Manoj Kohli Sells Entire Stake

Manoj Kohli A Bharti Airtel CEO Sells Entire Stake in company. Indian telecommunications operator Bharti Airtel Ltd.'s Chief Executive and Joint Managing Director Manoj Kohli has sold his stake for Rs 7.24 crore in the company on the open market transactions.

Manoj Kohli, who sold 123,000 shares through open market transactions in two tranches on March 6 and 9, soon after he reacted by saying that he had sold his personal stake “for personal reasons”. And he also said, he still held 180,000 options and would continue as CEO and joint managing director.

Manoj Kohli, who owned 123,000 shares, sold 53,000 shares on March 6 for about INR40.8 million after having sold 53,000 shares Friday for about INR31.4 million, or a 0.006% stake, in the company.

In a disclosure on the National Stock Exchange, Airtel said Kohli sold 70,000 shares in the company on March 9. Estimated on the basis of the closing price of Airtel at Rs 587.75 on March 9, the deal value comes at Rs 4.11 crore (Rs 41.1 million).

Kohli had sold 53,000 shares valued at Rs 3.13 Million in the company. who held 1.23 lakh shares, representing a 0.006 per cent stake in Airtel, has offloaded his entire holding via two open market transactions for Rs 7.24 Million.

Founders held a 67.15% stake in Bharti as of December 31, stock exchange data showed. Bharti shares were trading 3.1 per cent down at Rs 569.20 in early Thursday trade, while the Sensex was up 1.7 per cent.

Shares of Bharti Airtel were trading at Rs 563.20, down 4.18 per cent on the Bombay Stock Exchange.

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