Bharti Airtel acquires 23% stake in Indus Towers held by Nettle Infra

Telecom operator Bharti Airtel has increased its direct stake in Indus Towers by acquiring 23.01 per cent shares held by its completely owned subsidiary Nettle Infrastructure, a regulatory filing said on Saturday.

Bharti Airtel now holds 47.95 per cent stake in Indus Towers.

The telecom operator earlier directly held 24.94 per cent stake and 23.01 per cent through its subsidiary Nettle Infrastructure.

Bharti Airtel has acquired the 23.01 per cent stake of Indus Towers from Nettle to directly own 47.95 per cent in the mobile tower firm.

This is pursuant to the "composite scheme of amalgamation approved by the Hon'ble National Company Law Tribunal, Chandigarh bench, vide its order dated January 25, 2023 and becoming effective from February 1, 2023", the filing said.