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Bharti Infratel and Indus Towers to infuse Rs 35 billion as capex in 2018-19

May 08, 2018

Bharti Infratel and Indus Towers are likely to invest Rs 35 billion in operations as capex for 2018-19 as they continue to operate normally till their merger happens. Of the total, Bharti Infratel’s capex infusion for 2018-19 is expected to be around Rs 12 billion. Similarly, Indus Towers is likely to infuse roughly Rs 23-25 billion as capex this year.

The merger of the two companies will create a $14.6 billion firm with the second-largest number of mobile masts in the world. The merged entity will have more than 163,000 towers across India. According to the companies, the deal is expected to close before the end of 2018-19.

The transaction is subject to regulatory and other approvals which the two companies will now pursue, starting with approval from the Competition Commission of India (CCI) and thereafter Securities and Exchange Board of India (SEBI), National Company Law Tribunal (NCLT) and Department of Telecommunications (FDI approval).

The investment, which is being funded from internal accruals, will be used for new towers, tenancies and replacement capital. In addition, the capex amount will also be used for replacement of batteries, diesel generators, power equipment, etc.

 
 

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