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Bharti Infratel, Indus towers merger complete

The board has appointed Bimal Dayal as the CEO of the company with immediate effect and Manish Dawar will be the CFO with effect from December 1, 2020

Bharti Infratel, Indus towers merger complete
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Bharti Infratel, Indus towers merger complete

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New Delhi: The much-delayed merger of Bharti Infratel and Indus Towers completed on Thursday.

Post the completion of the transaction, Vodafone Idea Ltd (VIL) has received cash consideration of Rs. 3,760.1 crore for its 11.15 per cent shareholding in Indus.

"The said transaction had been executed and completed on November 19, 2020 ("VIL closing")," the filing said.

Further, the Board of Bharti Infratel has allotted 757,821 ,804 equity shares of Rs 10 each to the Vodafone group and 87,506,900 equity shares of Rs 10 each to PS Asia Holding Investments (Mauritius) Limited (Providence) aggregating to 28.12 per cent and 3.25 per cent respectively in the post-issue share capital of the company.

"Accordingly, the paid-up equity share capital of the company stands increased to Rs 26,949,369,500 divided into 2,694,936,950 Equity Shares of Rs 10 each fully paid-up," it said.

The board has appointed Bimal Dayal as the CEO of the company with immediate effect and Manish Dawar will be the CFO with effect from December 1, 2020.

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