Bharti Airtel is making a strategic move that could change India's telecom infrastructure. What’s next for Indus Towers?
Bharti Airtel's stake in Indus Towers jumps to 50.005% after buyback. Indus Towers becomes its subsidiary.
Indus Towers' Board approves buyback of 5.67 crore shares, boosting Airtel's stake to a majority.
Vodafone sold 484.7 million shares, reducing its stake in Indus Towers, paving the way for Airtel's majority.
Airtel acquired 2.69 crore shares in June at ₹320 each, further solidifying its position in Indus Towers.
Indus Towers reported a 42% YoY profit increase in Q1 2024, reaching ₹1,925.9 crore with rising revenue.