Indus Towers rings in gains after Bharti Airtel, SBI Mutual fund buy over 1% stake each

The shares of Indus Towers gained higher after SBI Mutual Fund and Bharti Airtel each acquired over a 1% stake via a block deal that happened on Tuesday. The stock gained 1.30%, reaching an intra-day high of Rs 339 on the NSE.

The British telecom operator raised Rs 15,300 crore from the sale, which will be utilized to substantially repay Vodafone’s existing lenders regarding the outstanding bank borrowings of €1.8 billion secured against Vodafone’s Indian assets.