ATC Telecom Infrastructure has sold its entire 2.8 per cent stake in Vodafone Idea Limited (Vi) through open market transaction.
As many as 1440 million shares were sold by the ATC Telecom at Rs 12.78 a share, valuing the deal at Rs 18.4 billion. Additionally, Citigroup Global bought shares worth Rs 6110 million through bulk deals, while rest of the buyers were unknown.
In March 2024, ATC had converted the debentures allotted by Vi into equity. In February 2023, Vi had allotted OCDs worth Rs 16 billion to ATC’s India unit against its dues. Vi was then estimated to owe ATC around Rs 20 billion.
