• BSE
  • NSE
    • {{d.cmpname}}
    • {{d.price}}
    • ({{d.PerChg}}%)
Equity | News | Hot Pursuit
Hot Pursuit
Vodafone Idea gains on completion of Indus Tower-Bharti lnfratel merger
(11:55, 20 Nov 2020)
Vodafone Idea has made a prepayment of Rs 2400 crore to the merged tower entity from the cash consideration received from Infratel.

The deal was first announced in April 2018 to create the world's largest mobile tower operator outside China. The Department of Telecommunications (DoT) had cleared Bharti Infratel's merger deal with Indus in February this year. The new merged entity would become the world's largest telecom tower company with more than 1.63 lakh towers.

Separately, Bharti Airtel announced that the merger of Indus Towers and Bharti lnfratel (together the combined entity) has been completed. The combined entity, to be renamed as Indus Towers, is listed on the National Stock Exchange of India and BSE,” it said in a regulatory filing.

The telecom major further said that upon implementation of the scheme, the aggregate shareholding of Bharti Airtel in the combined entity shall reduce from 53.51% to 36.73%.

In a regulatory filing made after closing hours on Thursday, Bharti Infratel said that its board had allotted 757,821,804 equity shares to the Vodafone group and 87,506,900 equity shares to PS Asia Holding Investments (Mauritius) (Providence) (together 'eligible shareholders' of Indus as on the record date) aggregating to 28.12% and 3.25%, respectively, in the post-issue share capital of the company.

Consequently, the Vodafone group will hold 28.12% stake while the Airtel Group will hold 36.73% stake in the combined entity.

Shares of Bharti Infratel jumped 9.70% to Rs 203.60 while Bharti Airtel gained 0.20% to Rs 469.55 on the BSE.

Powered by Capital Market - Live News

DB (International) Stock Brokers Limited: SEBI Reg. No.-INZ000179035 / CDSL : IN-DP-CDSL-266-2004 MCX-SX:INE 260643233/21500(CD)
Daga Commodities Private Limited: SEBI Reg. No. INZ000028833
Investor Grievances Email ID: compliance@dbonline.in & investors@dbonline.in
Copyright © 2016 All rights Reserved DB (International) Stock Brokers Ltd.     Designed, Developed and content powered by C-MOTS Infotech( ISO 9001:2015 certified )
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."         "Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors."          "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Attention Investors ::
subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries