Airtel set to be largest shareholder in Indus Towers

Bharti Airtel is poised to become the single largest shareholder in telecom infrastructure company Indus Towers following the completion of a buyback initiated by the tower company on August 14.

Airtel, which previously held a 48.95% stake in Indus Towers, will now own over 50% of the company, making Indus Towers a subsidiary of the telecom giant.

Indus Towers commenced its buyback on August 14, purchasing shares at Rs 465 each, for a total of Rs 2,639.9 crore. This buyback included 56.7 million shares, representing approximately 2.1% of the total equity shares in the company’s paid-up share capital.