Vodafone to offload 10% in Indus Towers to raise up to Rs 9,000 crore

British telecom giant Vodafone Group Plc is selling 10 per cent stake in Indus Towers, a telecom tower firm, to raise up to Rs 9,000 crore via block deals on Wednesday.

According to the terms of the transaction, the shares are being offered at a discount of 10 per cent to Tuesday’s closing price of Rs 344 a share.

Shares are being offered at the rate of Rs 310-341 a share. The company’s total market valuation was Rs 92,679 crore as on Tuesday.