Vodafone Idea sells 11.15% stake in Indus Tower

Vodafone Idea Limited has sold its 11.15% stake in Indus Tower for a cash consideration of Rs. 3,760 crore in accordance with the terms of the agreement and out of the consideration received from Infratel, the company has made a prepayment of Rs. 2,400 crore which will be adjusted in line with terms of the agreement.

Consequent to Vodafone Idea closing and the merger of Indus with the company, the shares held by the company and its nominees in Indus have been cancelled. Further, the Board has allotted 757,821,804 equity shares of Rs. 10 each to the Vodafone group and 87,506,900 equity shares of Rs. 10 each to PS Asia Holding Investments (Mauritius) Limited (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.

Accordingly, the paid-up equity share capital of the company stands increased to Rs. 26,949,369,500 divided into 2,694,936,950 equity shares of Rs. I0 each fully paid-up.

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