Bharti Infratel gains 7% after it completes merger with Indus Towers

Apart from double taxation benefits on dividend pass through, there would not be major benefit for Bharti Infratel as a combined entity, say analysts at ICICI Securities

Shares of Bharti Infratel moved higher by 7 per cent to Rs 200 on the BSE on Friday after the company completed merger with Indus Towers to create a mega tower company (renamed Indus Towers).

Bharti Airtel's stake in the combined entity will be 36.73 per cent while Vodafone group and Providence will hold 28.12 per cent and 3.25 per cent, respectively. Vodafone Idea (VIL) has received Rs 3,760.1 crore cash for its 11.15 per cent holding in Indus.

"The Board has allotted 757.8 million equity shares of Rs 10 each to the Vodafone group and 87.51 million equity shares