Other Deals - Listed Firms
Vodafone exits Indus Towers, raises Rs.3,000-Cr
UK-based telco Vodafone Plc has completed its exit from mobile tower infrastructure company Indus Towers , liquidating its remaining 3% stake in the company for INR 2,800 crore. It sold the remaining 79.2 million shares in Indus Towers through an accelerated book-build offering.In June last year, Vodafone had sold a 18% stake in Indus Towers through block deals, raising INR 15,300 crore.The latest transaction will allow Vodafone to repay its outstanding borrowings of INR 890 crore to its existing lenders, secured against Vodafone's Indian assets.
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