SBI Mutual Fund, Airtel Buy Vodafone Group’s Indus Towers Stake

Vodafone Group on Wednesday divested an 18.24% stake in Indus Towers Ltd. at Rs 15,636 crore through a market transaction. The top buyers include Bharti Airtel and SBI Mutual Fund.

Vodafone Telecommunications (India) Ltd. sold 26.56 crore shares between Rs 315.99 and Rs 325 per share, according to bulk data on the NSE. Prime Metals Ltd. sold a 2.07% stake at Rs 311.51 apiece, and Mobilvest sold 1.59% equity for Rs 311.4.

AL-Amin Investments Ltd. and Asian Telecommunication Investments (Mauritius) Ltd. also offloaded 2.08 crore shares and 2.51 crore shares, respectively.

As of March 24, Prime Metals held 4.16%, Mobilvest held a 3.19% stake, and Vodafone Telecommunications (India) held 3.09%. According to data on the BSE, Asian Telecommunication Investments (Mauritius) held 1.86% equity, while Trans Crystal had 2.78% and AL-Amin Investments held 1.55%.

On the other hand, SBI Mutual Fund bought a 1.32% stake for Rs 321.81 per share. Bharti Airtel also increased its stake by 0.99%. The other buyers include Authum Investment and Infrastructure Ltd. and Ghisallo Capital Management LLC.

Bharti Airtel, the highest shareholder as of March 2024, held a 51.01% stake.

The shares of Indus Towers closed 3.06% lower on Wednesday at Rs 334 per share. This compares to a 0.18% decline in the NSE Nifty 50 Index.