Vodafone to sell Indus Towers stake worth $1 billion

The wholly-owned subsidiaries of Vodafone Group Plc will sell stake worth $996 million-$1,096 million (Rs 8,308-9,138 crore) in Indus Towers through block deals on Wednesday.

The block deal for Indus Towers is likely to be launched at a 9.9 per cent discount to the stock’s current market price, according to the term sheet of the stake sale. Vodafone will sell 26.8 crore shares at a price range of Rs 310-341 per share.