Indus Towers may benefit if Vodafone Idea gets money and invests: Analysts

Kolkata: Indus Towers, India’s leading tower company, could post 8% compound annual growth rate in operating income through FY24-27 if key customer Vodafone Idea (Vi) closes its much-awaited Rs 45,000 crore fundraise on schedule and invests in network expansion, analysts said.

Cash-strapped Vi said it will open a sale of new shares on April 18 and close on April 22 to raise up to Rs18,000 crore. This will be closely followed by a Rs25,000 fundraising via debt. The company has already approved raising Rs2,075 crore from a promoter entity through a preferential share issue.