Acquisitions7 Feb 2025, 01:01 am
Indus Towers to Acquire Telecom Towers from Bharti Airtel and Bharti Hexacom for Up to INR 33,087 Mn
AI Summary
Indus Towers Limited has approved the acquisition of passive infrastructure assets/ Telecom Towers from Bharti Airtel Limited and Bharti Hexacom Limited. The acquisition, which is expected to be completed by March 31, 2025, will cost up to INR 33,087 Mn and will be financed through borrowing. The transaction will enhance Indus Towers' asset portfolio and support its growth plans, adding more towers to its portfolio and improving its market share.
Key Highlights
- Indus Towers to acquire passive infrastructure assets/ Telecom Towers from Bharti Airtel and Bharti Hexacom
- Transaction to cost up to INR 33,087 Mn and will be financed through borrowing
- Acquisition aligns with Indus Towers' strategic priority of increasing its market share
- Transaction is a related party transaction
- Acquisition is expected to be completed by March 31, 2025