Bharti Airtel acquires stake in Indus Towers Ltd. 27 million equity shares were transferred to Bharti Airtel
Bharti Airtel acquires 27 million equity shares of Indus Towers Ltd . The company announced about such acquisition in a recent exchange filing .
Indus Tower
Indus Towers is a provider of tower and related infrastructure sharing services. It is one of the largest telecom tower companies in India based on the number of towers and co-locations operated by the company. Bharti Airtel and VIL are key customers of the company contributing 80-85% of total revenue in FY23. Apart from these two, BSNL, MTNL and Jio are also customers of the company
Bharti Airtel acquisition in Indus Towers Ltd.
Bharti Airtel currently hold 47.95% shares in Indus Towers. They have increased their shareholding in the company by acquiring 27 million equity shares (i.e. 1%) equity shares of Indus Towers .
The stock price of Indus Towers fell close to 9% after the information of the acquisition arrived. By the end of the day, it recovered to some extent.
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