Vodafone Offloads Indus Towers Stake for Strategic Investments

Vodafone has sold its entire 3% stake in Indus Towers for Rs 2,800 crore. The proceeds partly settled Vodafone's debts and increased its stake in Vodafone Idea. Following this, Vodafone's security obligations to Indus have been satisfied.

In a strategic financial move, British telecom giant Vodafone has divested its 3% stake in Indus Towers, amounting to Rs 2,800 crore. This significant sale was confirmed by Indus Towers on Friday.

Vodafone has allocated Rs 890 crore from the transaction to clear its lender debts. The group's remaining stake of 79.2 million shares was offloaded in an accelerated book build offering as of December 5, 2024, highlighting the company's focus on debt restructuring and capital reallocation.

The residual proceeds were deployed in a capital raise, increasing Vodafone's ownership in Vodafone Idea to 24.39%. This strategic move has allowed Vodafone to satisfactorily conclude its obligations to Indus Towers under existing security arrangements.

(With inputs from agencies.)