Vodafone group offloads 18% stake in Indus Towers for ₹15,300 cr; Airtel buys 1%
U.K.-based Vodafone group will use the funds raised to substantially repay its outstanding bank borrowings of €1.8 billion secured against Vodafone's Indian assets
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Nykaa, ACC, HDFC AMC, Indus Towers, Page Ind shares fall up to 3% on exclusion from Nifty Next 50
PNB, Trent, TVS Motor, Shriram Finance, and Zydus Lifesciences will replace these five stocks in the Nifty Next 50 index, effective from September 29, 2023.
Indus Towers: Data Gains
The merger with Bharti Infratel and a sharp rise in mobile data usage aided the revenue growth of the world’s second-largest telecom tower company.
Airtel to purchase 4.7% of Vodafone’s stake in Indus Towers
The deal comes with a stipulation that the proceeds shall be used to induce fresh equity in Vodafone Idea and simultaneously remitted to Indus Towers.
