Indus Towers to become Bharti Airtel subsidiary after share buyback

Bharti Airtel is set to hold an over 50 per cent stake in Indus Towers after the tower management firm’s board approved the buyback of 56.7 million equity shares, Indus Towers has informed the exchanges. Consequently, Indus Towers Limited will become a subsidiary of Bharti Airtel Limited under the provisions of the Companies Act, 2013, the company said in a late-night filing on August 27.

Currently, Bharti Airtel has a 48.95 per cent stake in Indus Towers, which will now rise to 50.05 per cent.