Bharti Hexacom Ltd. to Sell/Transfer 3,400 Telecom Towers to Indus Towers Limited for INR 11,341 Mn.

Bharti Hexacom Ltd. has approved the sale/transfer of approximately 3,400 telecom towers, including macro sites, ultra lean sites, and cell on wheels, to Indus Towers Limited. The transfer, valued at INR 11,341 Mn., is subject to statutory approvals and will be based on a fair valuation conducted by an independent valuer. The decision aims 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.