Vodafone Group sells 18% stake of Indus Towers, Airtel buys 1% stake

SBI Mutual Fund and Bharti Airtel were two of the buyers of shares of Indus Towers that were offloaded by Vodafone Group Plc in bulk deals on the NSE. The British telecom operator said it sold 48.47 crore shares or 18 per cent stake in Indus Towers through an accelerated book building offering.

The exchange data did not have the full list of buyers and market sources indicated that a few large private equity firms had accounted for a major part of the purchases. Media reports had suggested investment firms Stonepeak and I-Squared Capital had shown interest in acquiring the shares.