VIL stock surged 5 per cent to hit an intraday high of Rs 8.62. It eventually settled 2.44 per cent up at Rs 8.41. Indus Towers, on its part, rose 2.19 per cent to hit a high of Rs 361.35. The scrip finally closed with 1.

Vodafone’s stake sale in Indus Towers aims to clear $101 million in secured borrowings and potentially support Vodafone Idea’s equity fundraising efforts.

Vodafone PLC announced the sale of its remaining 3% stake in Indus Towers on Wednesday, with proceeds to be used to repay Vodafone Idea's debt. The funds will primarily cover a $101 million loan, secured against Vodafone's Indian assets.

Vodafone to sell 3% stake in Indus Towers for Rs 2,841 crore to clear debt and pay outstanding dues of its Indian venture Vodafone Idea.

British telecom player Vodafone is set to sell its entire 3% stake, or 7.9 crore shares, in Indus Towers, the company said on Wednesday, December 4, 2024. The proceeds from the Pl

Vodafone Plc said that the funds from the sale of its remaining 3 percent equity stake in Indus Towers will be used to repay $101 million in outstanding borrowings, which are secured against its Indian assets.

Vodafone also intends to contribute the residual proceeds from the Placing towards an issue of new equity shares by Vi, once the terms of such a Capital Raise have been evaluated and decided on by Vi’s board.

After the transaction, the telco held over 3% stake in Indus Towers. Indus Towers is India's largest telecom tower provider, with over 219,736 towers across all 22 telecom circles

Vodafone Group Plc is to sell its remaining stake in India’s Indus Towers Ltd. after offloading $1.8 billion worth of shares in June.