Bharti Airtel is set to acquire a majority stake in Indus Towers, surpassing 50% ownership, following the completion of a Rs 2,640-crore share buyback scheme. A regulatory filing confirmed this development.
The telecom infrastructure giant, Indus Towers, commenced the buyback of over 5.67 crore shares at Rs 465 each on August 14. This move represents approximately 2.107% of the company’s total equity share capital.
Currently holding a 48.95% stake, Bharti Airtel’s ownership will increase to about 50.005% upon completion of the buyback, which is set to finalize by August 28, according to communication from Indus Towers dated August 27, 2024.
