Bharti Airtel to Secure Majority Stake in Indus Towers Post Buyback

Bharti Airtel will gain over 50% stake in Indus Towers following the telecom infrastructure firm's Rs 2,640-crore share buyback scheme. The buyback, initiated on August 14, involves over 5.67 crore shares at Rs 465 each. Currently, Bharti Airtel holds 48.95% and expects the buyback to conclude by August 28.

Bharti Airtel is set to acquire a majority stake in Indus Towers, surpassing 50% ownership, following the completion of a Rs 2,640-crore share buyback scheme. A regulatory filing confirmed this development.

The telecom infrastructure giant, Indus Towers, commenced the buyback of over 5.67 crore shares at Rs 465 each on August 14. This move represents approximately 2.107% of the company's total equity share capital.

Currently holding a 48.95% stake, Bharti Airtel's ownership will increase to about 50.005% upon completion of the buyback, which is set to finalize by August 28, according to communication from Indus Towers dated August 27, 2024.

(With inputs from agencies.)