Vodafone Idea rings loud after its British parent in talks to sell 5% stake in Indus Towers to Bharti Airtel
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Vodafone Idea is currently trading at Rs. 10.18, up by 0.54 points or 5.60% from its previous closing of Rs. 9.64 on the BSE.
The scrip opened at Rs. 9.91 and has touched a high and low of Rs. 10.49 and Rs. 9.91 respectively. So far 43090251 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 16.79 on 13-Dec-2021 and a 52 week low of Rs. 4.55 on 05-Aug-2021.
Last one week high and low of the scrip stood at Rs. 11.64 and Rs. 9.46 respectively. The current market cap of the company is Rs. 29310.10 crore.
The promoters holding in the company stood at 72.05% while Institutions and Non-Institutions held 5.57% and 22.38% respectively.
Vodafone Idea’s British parent -- Vodafone Group Plc is in talks to sell around 5 per cent stake in Indus Towers valued at over Rs 3,300 crore to Bharti Airtel. The proceeds will be pumped into the Indian entity. Currently, Vodafone holds about 28 per cent in Indus Towers while that of Bharti Airtel is close to 42 per cent.
Vodafone Plc is also planning to sell 2.4 per cent stake worth Rs 1,490 crore in Indus Towers through a block deal on Feb 24, 2022. The block deal would be executed through Euro Pacific Securities, a Vodafone group entity that holds 7.59 per cent stake in Indus Towers.
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.
