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Bharti Infratel up 28% in 3 days on completion of Indus Tower merger deal

Analysts at ICICI Securities see near-term stock supply only from Providence PE, which may monetise its stake as it had earlier opted for part cash-out

Bharti Infratel
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Bharti Infratel

SI Reporter Mumbai
Shares of Bharti Infratel surged 9 per cent to Rs 238 on the BSE on Tuesday, rallying 28 per cent in the past three trading days after the company completed merger with Indus Towers to create a mega tower company (renamed Indus Towers). The stock hit a 52-week high of Rs 295.75 in December 2019.

According to a regulatory filing, the merger of Bharti Infratel and Indus Towers to create a mega tower company has been completed, and Vodafone Idea has received about Rs 3,760 crore cash for its 11.15 per cent holding in Indus.

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First Published: Nov 24 2020 | 10:08 AM IST

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