Indus Towers Bharti Infratel Merger

British telecom firm Vodafone has sold its entire stake in Indus Towers for Rs 2,800 crore, the telecom infrastructure firm said on Friday. Vodafone has sold 7.92 crore or 3 per cent stake in Indus Towers and used Rs 890 crore from the proceeds to clear lenders dues, the company said in a regulatory filing. "Vodafone Group Plc announces that it has successfully completed the placing of its remaining 79.2 million shares in Indus Towers Limited ("Indus") representing 3.0 per cent of Indus' outstanding share capital through an accelerated book build offering on 5 December 2024," the filing said. The company held 3 per cent stake through its indirect wholly-owned subsidiaries, Omega Telecom Holdings Pvt Ltd and Usha Martin Telematics Limited. "Residual proceeds of Rs 19.1 billion (USD 225 million) have been used to acquire 1.7 billion equity shares in Vodafone Idea Limited through a preferential allotment of shares (a "Capital Raise"), increasing Vodafone's shareholding in Vi to 24.39

Telecom infrastructure company Indus Towers on Friday said it will acquire a 26 per cent stake in JSW Green Energy Eight for Rs 38.03 crore to procure renewable energy from a solar PV plant. Indus Towers will receive 130 MW of renewable energy from a solar photovoltaic (PV) power plant, according to a regulatory filing. "...the Company, on December 12, 2024, has entered into a Power Purchase Agreement with JSW Green Energy Eight Limited, a special purpose vehicle (SPV), for the procurement of renewable energy from Solar PV plant, under Captive mode. "In connection with this, the Company will also enter into an agreement for a proposed investment of approximately Rs 38.03 crore, through the subscription to equity shares of the SPV..." it said. JSW Green Energy Eight was incorporated in October 2024 to build, develop, own, generate, supply, accumulate, transmit, distribute, store, purchase, and sell electrical power or any other energy by using conventional and/or non-conventional ..

British telecom player Vodafone on Wednesday said it has sold an 18 per cent stake in Indus Towers for 1.7 billion euro (about Rs 15,300 crore). The company will use the major portion of the proceeds to pay 1.8 billion euro outstanding bank borrowings secured against Vodafone's assets in India. "Vodafone Group Plc...sold 484.7 million shares in Indus Towers Limited, representing 18 per cent of Indus' share capital through an accelerated book-build offering. "The placing raised Rs 153.0 billion (1.7 billion euro) in gross proceeds which will be used to substantially repay Vodafone's existing lenders in relation to the outstanding bank borrowings of 1.8 billion euro secured against Vodafone's Indian assets," Vodafone said in a note. Following the transaction, Vodafone now holds 82.5 million shares or 3.1 per cent in Indus Towers.

Vodafone plans to repay part of its $42.17 billion net debt using proceeds from the Indus Towers stake sale

Telecom infrastructure company Indus Towers on Tuesday reported around a 32 per cent jump in its consolidated net profit for the fourth quarter ended March 2024. It had registered a net profit of Rs 1,399.1 crore a year ago, as per the company's regulatory filing. The company's consolidated revenue from operations grew 6.5 per cent to Rs 7,193.2 crore during the reported quarter against Rs 6,752.9 crore in the March 2023 quarter. For the year ended March 31, 2024, Indus Towers posted close to a three-fold jump in consolidated profit to Rs 6,036.2 crore from Rs 2,040 crore at the end of the financial year (FY) 2023. The annual revenue from operations of Indus Towers remained almost flat at Rs 28,600.6 crore during the reported fiscal compared to Rs 28,381.8 crore in FY23. "The network expansion by a major customer and increase in our market share helped us deliver record tower additions, surpassing the milestone of 2,00,000 towers. On the financial front, we were pleased to see ste

Private equity major KKR, Canada Pension Plan Investment Board (CPPIB) and another entity sold Indus Towers' shares worth Rs 3,978 crore through open market transactions on Thursday. KKR through its arm Silverview Portfolio Investments Pte offloaded shares of telecom infrastructure major Indus Towers on the BSE. As per the bulk deal data, Silverview Portfolio Investments sold 13.08 crore shares of Indus Towers, while CPPIB disposed of more than 5.76 crore shares of the company, amounting to a 4.85 per cent and 2.14 per cent stake, respectively, in Indus Towers. Patronus Tradetech LLP also offloaded 2.26 lakh shares of telecom infrastructure company, as per the bulk deal data. The shares were sold within the price range of Rs 210.21-215.28 apiece, taking the transaction size to about Rs 3,977.94 crore. After the latest transaction, KKR through Silverview Portfolio Investments Pte sold its entire 4.85 per cent equity stake and exited the company, while shareholding of Canadian Pensi

The rental revenue growth was due to the addition of 7,600 towers, and 7,200 co-locations implying a reduction in the average sharing factor (ASF) sequentially to 1.72x from 1.74x

India's largest mobile tower company Indus Towers on Thursday reported a nearly three-fold jump in consolidated net profit to Rs 1,348 crore for the June 2023 quarter. The company had posted a net profit of Rs 477 crore in the same period a year ago. Its revenue grew three per cent during the reported quarter to Rs 7,076 crore compared to Rs 6,897 crore in the year-ago quarter. The company said strong tower additions on account of 5G rollouts and collections drive performance led to its growth during the June 2023 quarter even after making a doubtful debt provision of Rs 1,233 crore. "We are pleased to have delivered a solid operational performance in the first quarter of the financial year 2024, with the highest quarterly tower additions in our history. The steady collections have aided our financial performance. "With the 5G rollouts by operators and network expansion of a major customer progressing at speed, Indus Towers is also keeping pace to capture the growth opportunity an

The stock traded close to its 52-week low of Rs 194.25 touched on August 5, 2021.

Stake sale by telcos, higher ESG ranking, capex rollout other triggers

In Q2, the company witnessed the highest net tower additions in the last eight years

The company said it has initiated due process for getting final approval from stock exchanges to update the name to Indus Towers

Bharti Infratel has received approval from the Registrar of Companies for changing its name to Indus Towers, following the recent merger of the two companies to create a mega tower entity

Apart from double taxation benefits on dividend pass through, there would not be major benefit for Bharti Infratel as a combined entity, say analysts at ICICI Securities

Vodafone Group will hold 28.12 per cent stake in the merged entity, while the holding of Airtel Group will be about 36.7 per cent

British telecom major Vodafone Group said it has received an approval from its lenders, who contributed in funding for Vodafone Idea, to proceed with the merger of Indus Towers with Bharti Infratel

VIL will also seek shareholders' nod to create charge or mortgage or hypothecate on the company's properties up to the limit of Rs 1 trillion

Experts see the telecom sector heading towards duopoly

Infratel will be a majority shareholder in the merged entity with a likely stake of 68.6%, while London-listed Vodafone Group Plc (VOD.L) will hold 28.2%

Vodafone Idea has decided to cash out by selling its 11.15 percent stake in Indus. The move comes ahead of the Supreme Court's verdict in the AGR case today