Artisan Partners divests 1.2% stake in Indus Towers for Rs 717 crore

Asset management company Artisan Partners on Wednesday divested a 1.2 per cent stake in telecom infrastructure major Indus Towers for Rs 717 crore through an open market transaction.

The US-based Artisan Partners through its affiliate Artisan International Value Fund sold shares of Indus Towers on the BSE.

According to the bulk deal data available with the BSE, Artisan International Value Fund offloaded 3,33,46,663 shares, amounting to a 1.24 per cent stake in Indus Towers.

The shares were disposed of at an average price of Rs 215.10 apiece, taking the deal value to Rs 717.29 crore.

After the latest transaction, Artisan Partners' shareholding in Indus Towers declined to 0.47 per cent stake from 1.71 per cent.

Details of the buyers could not be ascertained.

On Wednesday, shares of Indus Towers rose 1.92 per cent to close at Rs 225.50 apiece on the BSE.

Last week, private equity major KKR, Canada Pension Plan Investment Board (CPPIB), and another entity sold Indus Towers' shares worth Rs 3,978 crore. The shares were offloaded on the BSE.

Bharti Airtel promoted-Indus Towers Ltd, formerly Bharti Infratel Ltd, provides passive telecom infrastructure.