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Bharti Infratel, Indus Towers merger complete; VIL gets Rs 3,760 Cr - New Delhi News

New Delhi, Nov 19 (IANS) The much-delayed merger of Bharti Infratel and Indus Towers completed on Thursday.

Updated Nov 19, 2020 18:09 PM

Bharti Infratel, Indus Towers merger complete; VIL gets Rs 3,760 Cr - New Delhi News

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 eith immediate effect and Manish Dawar will be the CFO with effect from December 1, 2020.

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media