Indus Towers stocks gain 2% on Vodafone Idea Rs 45,000-crore fund-raising plans

As of October 2023, Vodafone Idea owed Indus Towers around Rs 5,600 crore. Vodafone Idea repaid Rs 300 crore in January 2023.

Moneycontrol News

February 28, 2024 / 11:22 IST

In Q3FY24, Indus Towers reported a net profit of Rs 1,540.1 crore for the Q3FY24. In the previous fiscal, Indus Towers posted a net loss of Rs 708.2 crore.

26 Aug, 2025 12:21

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Shares of Indus Towers gain 2.14 percent on February 28, a day after Vodafone Idea announced that its board approved fundraise of up to Rs 45,000 crore via equity and debt. At 9:20 am, the stock was trading at Rs 245.40.

The stock has gained over the last few sessions on reports of the beleaguered telecom' fundraising plans on the hope that some of the funds raised will be used to by Vodafone Idea to repay the money it owes to Indus Towers.

As of October 2023, Vodafone Idea owed Indus Towers around Rs 5,600 crore. The company is involved in installing, owning, and managing communications structures and telecom towers for wireless operators. Vodafone Idea had repaid Rs 300 crore to Indus Towers in January 2023.

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On February 27, Citi Research had said that the fund raise can drive further upside for Indus Towers and will be a key factor to monitor. The note added that with the fundraise Indus Towers could potentially recover nearly half of its past outstanding dues from Vodafone Idea over the next two years.