Vodafone Idea climbs 5% on receiving Rs 3,760 crore from Indus stake sale

NEW DELHI: Shares of Vodafone Idea surged 5 per cent in Friday’s trade after the debt-ridden company received about Rs 3,760 crore cash for its 11.15 per cent holding in Indus Towers following its merger with Bharti Infratel.

The stock rose 4.63 per cent to hit a high of Rs 9.70 on BSE. Shares of Bharti Infratel gained 7.58 per cent to Rs 199.50

As promoters of the new company, Vodafone Group will hold 28.12 per cent stake (in the merged entity) while the holding of Bharti Airtel Group will be about 36.7 per cent.