Vodafone sells its entire stake in Indus Towers: raised Rs 2,800 crore, also paid dues of ₹890 crore

British telecom company Vodafone has sold its entire stake in Indus Towers for Rs 2,800 crore. The telecom infrastructure company gave this information in a regulatory filing on Friday (January 10).

The company said in the filing that Vodafone has sold 7.92 crore shares or 3% stake in Indus Towers. The fund of Rs 890 crore raised from this has been used to repay the dues of lenders.

Vodafone sells its remaining 79.2 million shares in Indus Towers

Vodafone Group Plc has announced that it has completed the sale of its remaining 79.2 million shares in Indus Towers Ltd through a book build offering on December 5, 2024, representing the outstanding share capital of Indus, the filing said. Is 3.0%.

The company held 3% stake through its indirect wholly owned subsidiaries Omega Telecom Holdings Private Limited and Usha Martin Telematics Limited.

Vodafone has sold 7.92 crore shares or 3% stake in Indus Towers.

Vodafone’s stake in VI increased from 22.56% to 24.39%

According to the filing, the remaining funds of Rs 19.1 billion ($225 million) have been used to buy 1.7 billion equity shares in Vodafone Idea Ltd through preferential allotment of shares (capital raise). Due to which Vodafone’s stake in VI has increased from 22.56% to 24.39%.

Vodafone Idea has used the funds raised from Vodafone’s capital raise to pay the outstanding amount of the Master Service Agreement to Indus. The filing said that after this, Vodafone’s obligations towards Indus under the security arrangements have now been fully fulfilled.