Vodafone to sell $1 billion stake in Indus Towers
The terms sheet of the stake sale indicates that the block deal for Indus Towers is expected to be introduced at a 9.9% discount to the stock's current market price.
On Wednesday, Vodafone Group Plc's wholly-owned companies will sell a $996 million–$1,096 million (Rs 8,308–9,138 crore) share in Indus Towers through block agreements.
The terms sheet of the stake sale indicates that the block deal for Indus Towers is expected to be introduced at a 9.9% discount to the stock's current market price. Vodafone plans to offer 26.8 crore shares for between Rs 310 and Rs 341,00 per share.
What's Your Reaction?
