Latest News | Bharti Infratel, Indus Towers Merger Complete; VIL Gets Rs 3,760 Cr for 11.15 Pc Holding in Indus

New Delhi, Nov 19 (PTI) 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.  

Also Read | Gionee M12 with Quad Rear Cameras & 5,100mAh Battery Launched, Check Price, Features & Specifications Here.

"...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.

Also Read | NSE Imposes Rs 1.88 Lakh Penalty on NDTV for Delay in Appointing Board Director.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)