Indus Towers to become a subsidiary of Bharti Airtel soon

Following the completion of its buyback program, Indus Towers, is likely to become a subsidiary of Bharti Airtel. The buyback involves the repurchase of up to 56,774,193 equity shares, equivalent to approximately 2.107 per cent of Indus Towers’ total paid-up capital.

As a result, Airtel’s existing 48.95 per cent stake in Indus Towers will increase to around 50.005 per cent upon the buyback’s conclusion.

Once the buyback is finalised, Airtel’s ownership will surpass 50 per cent, thereby designating Indus Towers as a subsidiary in accordance with the Companies Act, 2013. This transition will grant Airtel a controlling interest in Indus Towers following the completion of the buyback process.