Bharti Airtel to Sell/Transfer 12,700 Telecom Towers to Subsidiary Indus Towers for INR 21,746 Mn

Bharti Airtel Ltd. has announced the sale/transfer of approximately 12,700 telecom towers, including macro sites, ultra lean sites, and cell on wheels, to its subsidiary Indus Towers Limited. The transfer, valued at INR 21,746 Mn, is subject to statutory approvals and will be undertaken based on a fair valuation conducted by an independent valuer. The aim of this transfer is to create group-wide synergies, enable sharper focus on tower assets, and better administer tower business operations within the Group. It is important to note that the telecom towers do not qualify as an ‘Undertaking’ of the Company in terms of the relevant provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.