UK’s Vodafone to sell remaining 3% stake in Indus Towers as strategic shift continues

British telecom giant Vodafone Group has announced plans to divest its remaining three per cent stake in Indus Towers, an Indian telecom infrastructure company. The sale, comprising 79.2 million shares, will be conducted through an accelerated book build offering, the company revealed on Wednesday.

Proceeds to Address Outstanding Debt

This move is part of Vodafone’s broader strategy to exit its Indian investments, streamline operations, and strengthen its financial position. The company plans to use the proceeds primarily to repay $101 million in outstanding borrowings secured against its Indian assets.