“Bharti Airtel will hold over a 50% stake in Indus Towers after completion of the ongoing ₹2,640-crore share buyback scheme of the telecom infrastructure firm,” a regulatory filing said on Wednesday (August 28, 2024).
Telecom infrastructure major Indus Towers commenced the buyback of over 5.67 crore shares at ₹465 apiece on August 14, representing approximately 2.107% of total number of equity shares in the paid-up share capital of the company.
"In terms of communication dated August 27, 2024 issued by Indus Towers, the shareholding of the company in Indus Towers will increase to more than 50% (i.e. about 50.005%) of its paid-up share capital, subject to completion of relevant activities within stipulated timelines for the said Buyback", Bharti Airtel said in a regulatory filing.
Bharti Airtel at present holds 48.95% stake in Indus Towers.
Indus Towers has set August 28 as the last date for completion of settlement of bids by the Bombay Stock Exchange (BSE).
