Vodafone Group Plc has sold an 18 per cent stake out of its 21.05 per cent holding in Indus Towers Limited for Rs 153 billion via an accelerated book-building offering.
The stake sale proceeds will be used to clear bulk of the Vodafone Group Plc’s existing lender dues relating to €1.8 billion of borrowings secured against its Indian assets.
Following the stake sale, Vodafone now holds 82.5 million shares in Indus, or a 3.1 per cent stake.
