Copyright indiatimes
Bharti Airtel on Monday said its board has approved the acquisition of a 5 per cent additional stake in its telecom infrastructure subsidiary Indus Towers.Bharti Airtel holds a 51.03 per cent stake in Indus Towers as of September 30.However, the company, in a filing, said that "acquisition doesn't fall within related party transaction(s)"."A Special Committee of Directors...has granted an enabling approval for acquisition of up to 5 per cent additional stake in Indus Towers Limited, a subsidiary company, in one or more tranches over a period of time," Airtel said in the filing.Based on Indus Tower's Monday closing price of Rs 382.70 on BSE, the 5 per cent stake is worth over Rs 5,000 crore.Live EventsAirtel said that the acquisition will be subject to prevailing market conditions, including liquidity and price considerations, as well as compliance with applicable laws.Public shareholders, including mutual funds, Life Insurance Corporation of India, held a 48.93 per cent stake in Indus Towers as on September 30.In December 2024, Vodafone sold its 3 per cent stake in Indus Towers for around Rs 2,800 crore and exited from the company.Indus Towers shares closed at Rs 382.7 per share on Monday. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onindus towersbharti airtelIndus TowersBharti Airtel stake acquisitionBharti Airtel board approvaltelecom infrastructureVodafone Indus Towers stake saleBSE closing pricelife insurance corporation of india (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onindus towersbharti airtelIndus TowersBharti Airtel stake acquisitionBharti Airtel board approvaltelecom infrastructureVodafone Indus Towers stake saleBSE closing pricelife insurance corporation of india(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
