According to a regulatory filing on August 20, 2025, Bharti Hexacom has obtained approval from the majority of its shareholders during its 30th annual general meeting (AGM) to sell mobile towers to its sister concern for Rs 11.34 billion.
Additionally, the Bharti Airtel group stated that its resolution “to approve material related party transactions with Indus Towers Limited, a related party” was cleared with 88.28 per cent votes at the meeting.
However, Telecommunications Consultants India Limited (TCIL), which holds a 15 per cent stake in the company, reportedly opposed the transaction, raising concerns over the valuation.
Further, Bharti Hexacom had already received majority shareholder approval on March 16, 2025 for the deal. In an update dated April 9, 2025, the company disclosed that TCIL had requested the process to be restarted in line with its requirements.
Nevertheless, around 2.5 per cent of the votes from public non-institutional shareholders were cast against the transaction.
