Indus Towers Acquires Bharti Airtel and Hexacom Sites for Expansion

Indus Towers will acquire mobile sites from Bharti Airtel and Bharti Hexacom for Rs 3,308.7 crore. The acquisition, involving 16,100 telecom towers, will be financed through borrowings. Both Airtel and Hexacom boards have approved the sale, excluding towers under the Universal Service Obligation Fund projects.

Indus Towers, a leading telecom infrastructure firm, disclosed on Friday its plan to acquire mobile sites from Bharti Airtel and its affiliate, Bharti Hexacom, at a cost of Rs 3,308.7 crore.

The boards of both Airtel and Hexacom authorized the sale of telecom towers for Rs 2,147.6 crore and Rs 1,134 crore, respectively, as per the recent regulatory filings. Indus Towers, possessing a substantial footprint across India with 234,643 towers, aims to expand its infrastructure network by acquiring approximately 16,100 additional towers.

The acquisition, which will be financed through borrowings, excludes telecom sites installed under Universal Service Obligation Fund projects. This move will further solidify Indus Towers' leading position in the telecom infrastructure sector, according to company sources.

(With inputs from agencies.)