Vodafone Idea’s parent organization -- Vodafone Group Plc (Vodafone) has sold 484.7 million shares in Indus Towers (Indus), representing 18.0% of Indus' share capital through an accelerated book-build offering (Placing).
The Placing raised Rs 153.0 billion in gross proceeds which will be used to substantially repay Vodafone's existing lenders in relation to the outstanding bank borrowings of Euro 1.8 billion secured against Vodafone's Indian assets. Following the Placing, Vodafone holds 82.5 million shares in Indus, equivalent to a 3.1% shareholding.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
