Vodafone Idea expects Indus Tower stake sale in 3-4 months for Rs 5500 crore
Updated : April 10, 2019 06:56 AM IST
Under a contract signed with Bharti Infratel in April 2018, Vodafone Idea has an option to sell the 11.15 percent stake in Indus Tower for cash ahead of the merger of the country's largest mobile tower firm with the Bharti group firm.
The board of directors of Vodafone Idea on March 20 cleared the planned Rs 25,000-crore rights issue at a price of Rs 12.50 per equity share, a steep 61 percent discount to the prevailing market rate.
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