A unit of Singapore Telecommunications Ltd. has offered to sell shares in wireless carrier Bharti Airtel Ltd., potentially raising $1 billion from one of the biggest block trades in India this year, terms of the offering show.

J.P. Morgan India Pvt. is acting as sole broker for the sale of 47.6 million shares, or 0.8% stake, in Bharti Airtel by Pastel Ltd., the Singtel unit, according to terms of the deal obtained by Bloomberg News. Offered at a floor price of 1,800 rupees apiece, about a 3.6% discount to the stock’s closing price in Mumbai on Thursday, the transaction will raise about 85.7 billion rupees ($1 billion).

The sale will take place on local bourses Friday and will be settled by May 19. The final pricing will be decided after execution of the transaction, the terms showed. Pastel held about 9.2% stake in Bharti Airtel as of March 31, according to data compiled by Bloomberg. In March last year, it trimmed its stake by selling about $710 million of Bharti Airtel stock, a move aimed at raising funds to invest in areas such as data centers.

The large-sized offering marks a resumption of activity in India’s equity capital market that had cooled in recent months. Earlier this week, Ant Group entity Antfin Netherlands Holding sold about $247 million worth of shares in India’s One 97 Communications Ltd., also known as Paytm, while General Atlantic divested shares in corporate registry services provider KFin Technologies Ltd.