ATC Telecom Infrastructure sells entire stake in Vi for Rs 1,840 crore

ATC Telecom Infrastructure on Friday sold its entire 2.87 per cent stake in telecom operator Vodafone Idea for Rs 1,840 crore through an open market transaction.

American Tower Corporation (ATC) Telecom Infrastructure is one of the largest infrastructure service providers to Vodafone Idea.

According to bulk deal data available on the National Stock Exchange (NSE), ATC Telecom Infrastructure Pvt Ltd sold a total of 144 crore shares representing 2.87 per cent stake in Vodafone Idea (VIL).

The shares were disposed of at an average price of Rs 12.78 per share, taking the deal size to Rs 1,840.32 crore.

ATC Telecom Infrastructure holds 2.87 per cent stake in VI as it recently converted debentures into equity.Meanwhile, Citigroup Global Markets Mauritius acquired over 49.12 crore shares, equivalent to 0.98 per cent stake in VIL. The shares were bought at an average price of Rs 12.70, taking the deal value to Rs 623.88 crore.

However, Citigroup Global Markets Mauritius sold 98.74 lakh shares of VI at an average price of Rs 13.47 per piece.

This took the deal size to Rs 13.30 crore.

Other buyers of the shares could not be identified.Shares of Vodafone Idea closed 0.36 per cent lower at Rs 13.85 on NSE.

On Monday, debt-laden telecom operator Vodafone Idea Ltd raised Rs 18,000 crore through India’s biggest-ever follow-on public offering (FPO) as the issue was subscribed nearly seven times after institutional investors pumped in money. I went.

Vodafone Idea sold shares worth Rs 5,400 crore to institutional investors in the first tranche last week. Investment firms GQG and Fidelity bought the majority of shares during the anchor book allotment.

The fundraise will arm VIL to improve its competitive position in the Indian telecom market, where it lags behind Reliance Jio and Bharti Airtel by a wide margin. The Indian Community