ATC Telecom Infra pares entire stake in Vodafone Idea for ₹1,840 Crore

29 Apr 2024 , 12:09 PM

ATC Telecom Infrastructure sold its full 2.87% interest in telecom operator Vodafone Idea on Friday for ₹1,840 Crore in an open market transaction. American Tower Corporation (ATC) Telecom Infrastructure is a major infrastructure service provider for Vodafone Idea.

According to bulk transaction data accessible on the National Stock Exchange (NSE), ATC Telecom Infrastructure Pvt Ltd sold 144 Crore shares, representing a 2.87% stake in Vodafone Idea (VIL).

The shares were sold for an average price of ₹12.78 each, bringing the total transaction value to ₹1,840.32 Crore.

ATC Telecom Infrastructure had a 2.87% investment in VI after converting debentures into equity. Meanwhile, Citigroup Global Markets Mauritius purchased more than 49.12 Crore shares, representing a 0.98% holding in VIL. The shares were purchased at an average price of ₹12.70, bringing the total deal value to ₹623.88 Crore.

However, Citigroup Global Markets Mauritius sold 98.74 lakh VIL shares at an average price of ₹13.47 apiece. This increased the deal size to ₹13.30 Crore.

Other buyers of the shares could not be identified.

ATC Telecom Infrastructure Private Limited offers telecom infrastructure solutions. The company designs, installs, and constructs telecommunications towers, distributed antennas, and communication systems, as well as provides maintenance and operations services.

At around 11.57 AM, Vodafone Idea was trading 0.36% lower at ₹13.95, against the previous close of ₹14 on NSE. The counter touched an intraday high and low of ₹14.30, and ₹13.85, respectively.

For feedback and suggestions, write to us at [e-mail]