12 February 2025
Indus is to acquire 16,100 towers from Bharti Airtel and Hexacom for Rs. 3,308.7 Crore, as part of Indus’s Towers growth strategy, to increase market share and to generate benefits through operational synergies
Indus has confirmed this in a regulatory filing, while both Boards of Bharti Airtel and Hexacom have approved the deal. The deal excludes the transfer of sites installed under Universal Service Obligation Fund (USOF) projects.
Bharti Airtel has approved the sale/transfer of approximately 12,700 towers, which includes Macro Sites, Ultra Lean Sites (ULS) and Cell on Wheels (COW).
"The transfer is aimed at creating benefits from group-wide synergies of operations; enable sharper focus on tower assets; and better administration of tower business operations within the Group," said Bharti Airtel.
"The Board of Directors have approved the acquisition of passive infrastructure assets/ Telecom Towers from Bharti Airtel Limited and Bharti Hexacom Limited, by way of slump sale, subject to necessary statutory approvals under the applicable laws," said Indus Towers in its exchange filing.
