Indus Towers Amends SHA and AoA Following Vodafone Exit

Indus Towers Limited informed the exchanges about the complete divestment of Vodafone Shareholders’ stake in the company.

Vodafone Shareholders Exit Indus Towers

The Vodafone Shareholders, comprising entities such as Al-Amin Investments Limited, Asian Telecommunication Investments (Mauritius) Limited, and Vodafone Telecommunications (India) Limited, among others, have exited their shareholding as of December 5, 2024. Consequently, the Shareholders’ Agreement (SHA) involving Bharti Airtel Limited, Vodafone Shareholders, and Indus Towers has been terminated concerning the rights and obligations of Vodafone Shareholders.

To reflect this development, the SHA, originally executed on April 25, 2018, and subsequently amended and restated on August 31, 2020, has undergone further amendments. The agreement, now valid between Indus Towers and its promoter Bharti Airtel Limited (along with Nettle Infrastructure Investments Limited, now merged with Bharti Airtel), has been revised to eliminate all references to Vodafone Shareholders.

The Board of Directors of Indus Towers has approved corresponding amendments to the Articles of Association (AoA) of the company. These amendments, subject to shareholder approval, include the removal of references to Vodafone Shareholders and the associated inter-se rights and obligations between Bharti Airtel and Vodafone Shareholders.

The SHA was originally established to regulate the governance and management of Indus Towers, define the relationship among the parties, and address the company’s operational aspects. With Vodafone Shareholders no longer holding a stake, their rights and obligations within the SHA have been nullified. The amendments also redefine certain provisions related to Bharti Airtel’s role as the remaining promoter.

On December 23, 2024, Indus Towers share price opened at ₹339.00, touching the day’s low at ₹333.65, as of 10:05 AM on the NSE.

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