Indus Towers Ltd., has announced that Vodafone Group Plc shareholders have collectively divested their entire shareholding in the company. Consequently, the shareholders' agreement entered between Bharti Airtel Ltd., Vodafone shareholders and Indus Towers is terminated in relation to the rights and obligations of Vodafone.
Vodafone shareholders Al-Amin Investments Ltd., Asian Telecommunication Investments (Mauritius) Ltd., Trans Crystal Ltd., Vodafone Telecommunications (India) Ltd., CCII (Mauritius), Inc., Euro Pacific Securities Ltd., Prime Metals Ltd., Mobilvest, Omega Telecom Holdings Pvt., and Usha Martin Telematics Ltd. have divested their entire stake, according to an exchange filing.
Accordingly, the SHA has been amended to make certain consequential changes and reflect the current context, the filing said.
The original shareholders' agreement dated April 25, 2018, had been amended and restated on Aug. 31, 2020. The amended agreement was entered into between Indus Towers, Bharti Airtel and the Vodafone shareholders, as per the filing.
Indus Towers' board of directors have considered and approved amendment to the Articles of Association, to reflect the changes made to the SHA, subject to shareholder approval.
The key changes to the AoA include the removal of all references to Vodafone shareholders and the removal of the inter-se rights and obligations between Bharti Airtel and Vodafone shareholders. The definitions have been revised and updated to reflect the changes in the shareholders' agreement.
Vodafone shareholders divested their entire shareholding in the company on Dec. 5, 2024, leading to the termination of the SHA with them.
Indus Towers, India's largest mobile tower installation company, became a subsidiary of Bharti Airtel Ltd. in August, following a buyback of shares. As of September, the Sunil Bharti Mittal-led telecom company had 50% equity in the company.
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