VIL stock surged 5 per cent to hit an intraday high of Rs 8.62. It eventually settled 2.44 per cent up at Rs 8.41. Indus Towers, on its part, rose 2.19 per cent to hit a high of Rs 361.35. The scrip finally closed with 1.

Vodafone PLC will sell its remaining 3% stake in Indus Towers to repay Vodafone Idea's debt. The proceeds may also be used to invest in Vi's new equity issue. This news boosted shares of both Vodafone Idea and Indus Towers.

These residual proceeds will be used to purchase equity in a fresh issuance of shares by Vodafone Idea, which will then use the funds to clear its outstanding dues to Indus Towers

Vodafone has been actively seeking to sell down its stake in Indus Towers since 2022, gradually reducing its stake from 28% to 21.5% earlier this year. In June, the company announced it was looking to sell a further 10% in the company, but a surge of interest saw them reconsider the scale of the stake sale.

Vodafone Group Plc is selling its remaining 3% stake in Indus Towers through a block deal. The proceeds will be used to repay Vodafone Idea's debt and potentially invest in Vi's new equity issue. This move will fully exit Vodafone from Indus Towers.

Vodafone Group Plc is to sell its remaining stake in India’s Indus Towers Ltd. after offloading $1.8 billion worth of shares in June.

Kotak and BofA are learnt to be the brokers for the share sale by Vodafone Plc's units Omega Telecom and Usha Martin Telematics. Bharti Airtel, the other promoter entity holds 50% in the company.

Vodafone Group will sell its remaining 3% stake in Indian telecom infrastructure developer Indus Towers, the British telecom group said on Wednesday. The British firm said it has