Vodafone exits Indus Towers, sells complete stake for Rs 2800 crore; 890 crore dues paid – INA NEWS
British telecom firm Vodafone (Vodafone) has bought its complete stake in Indus Towers for Rs 2,800 crore. Vodafone has bought 7.92 crore shares or 3 per cent stake in Indus Towers, the corporate stated in a regulatory submitting. Out of the quantity acquired from this, Rs 890 crore has been used to repay the dues of the lenders.
The corporate stated, “Vodafone Group has introduced that it has acquired Indus Towers Ltd. on December 5, 2024. (Indus) efficiently accomplished the putting of its remaining 7.92 crore shares. That is 3.0 per cent of the excellent share capital of Indus.”
Vodafone held 3 per cent stake in Indus Towers via its wholly owned oblique subsidiaries – Omega Telecom Holdings Pvt Ltd and Usha Martin Telematics Ltd.
Improve in stake in Vodafone Thought
“The remaining quantity (Rs 19.1 billion or $225 million) has been used to buy as much as 1.7 billion fairness shares in Vodafone Thought Restricted via preferential allotment of shares,” it stated in an change submitting. “With this, Vodafone’s stake in Vodafone Thought has elevated from 22.56 % to 24.39 %.” Vodafone Thought has used the capital raised by Vodafone to pay the excellent dues of the service settlement to Indus.
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On January 10, Vodafone Thought shares fell by greater than 2 % and closed at Rs 7.75 on BSE. The market cap of the corporate is Rs 54000 crore. The inventory has fallen 52 % in a single 12 months. The inventory’s 52-week excessive on BSE is Rs 19.15, which was created on June 28, 2024. The 52-week low of Rs 6.60 was seen on November 22, 2024.
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Vodafone exits Indus Towers, sells complete stake for Rs 2800 crore; 890 crore dues paid
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