Bharti Airtel promoters are selling a small 2.75% stake in the company to retire the debt on their books. But will that help the shareholders of Bharti Airtel? The promoter, Bharti Telecom, currently holds 38.8% share in Airtel. On 26 May it sold 15.2 crore shares of Airtel at Rs.8500 crore. This is exactly the amount of debt in the books of Bharti Telecom. In some cases like Zee and Essar, the minority shareholders came under pressure after the promoter entities leveraged too much. Hence rating agencies have become sceptical of promoter companies with high debt. That now stands resolved in the case of Bharti Airtel. In addition, Bharti Telecom also has Rs.5600 crore of debt repayable in the next two quarters. However, the total stake of the promoter group still remains at 56%, keeping the promoters firmly in the saddle. Brokers believe that deleveraging Bharti Telecom will actually benefit Bharti Airtel.