Bharti Infratel, Indus Towers merger complete

Bharti Infratel, Indus Towers merger complete; VIL gets Rs 3,760 crore for 11.15% holding in Indus

Vodafone Group will hold 28.12 per cent stake in the merged entity

Representative image.

The merger of Bharti Infratel and Indus Towers to create a mega tower company has been completed, and Vodafone Idea has received Rs 3,760.1 crore cash for its 11.15 per cent holding in Indus, a regulatory filing said on Thursday.

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.  

"...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) aggregating to 28.12 per cent and 3.25 per cent respectively in the post-issue share capital of the company," Bharti Infratel said in the filing.

It further said the merger of Indus and Infratel "has been completed", and added that Vodafone Idea has received cash consideration of Rs 3,760.1 crore for its 11.15 per cent shareholding in Indus.