Tender Offer | ₹2,640.00 Crores | Listed at BSE, NSE | Wed, Aug 14, 2024 - Wed, Aug 21, 2024
Indus Towers Ltd. Buyback is a tender offer for the repurchase of up to 5.68 crore equity shares, representing 2.10% of the total paid-up equity share capital at a buyback price of ₹465 per share with a face value of ₹10 per share, aggregating to ₹2,640.00 crores.
The record date for determining eligible shareholders is Aug 9, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 14, 2024 and closes on Aug 21, 2024, with the last date for receipt of tender forms being Aug 21, 2024.
The finalisation of buyback acceptance is expected on Aug 27, 2024, followed by settlement of bids on Aug 28, 2024.
Axis Capital Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Axis Capital Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Indus Towers Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Aug 14, 2024
Offer Closing Date
Wed, Aug 21, 2024
Buyback Price
₹465 per share
Record Date
August 9, 2024
| Buyback Date | Share % of paid-up capital bought back | Share Buyback price | Total Buyback Amount | Acceptance Ratio (Retail) |
|---|---|---|---|---|
| Aug 27, 2024 | 2.10% | Rs 465.00 | Rs 0.03 Cr | 71.00% |
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 4 Fully paid-up Equity Shares held on the Record Date. | 8,516,129.00 |
| General Category for all other Eligible Shareholders | 5 Equity Shares out of every 139 Fully paid-up Equity Shares held on the Record Date. | 48,258,064.00 |
Indus Towers Limited's revenue increased by 0.76% and profit after tax (PAT) rose by 195.89% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue | 743.94 | 2,896.17 | 2,874.31 | 2,806.97 |
| Profit After Tax | 192.59 | 603.62 | 204.00 | 637.31 |
| Net Worth | 2,647.18 | 2,454.36 | 1,849.95 | 1,941.86 |
| Amount in ₹ Crore | ||||
Indus Towers Limited is a telecommunications tower company that provides shared infrastructure to wireless telecommunication service providers in India. Founded in 2007 by Bharti Infratel, Vodafone Essar, and Idea Cellular, the company's goal was to merge its passive infrastructure assets across 16 telecom circles. As of March 31, 2024, Indus Towers has over 219,736 towers and 368,588 co-locations, covering all 22 telecom circles in India.
Indus Towers' products and services include:
The company's customers include Bharti Airtel, Vodafone Idea Limited, and Reliance Jio Infocomm Limited. Indus Towers provides access to its towers on a shared basis under long-term contracts.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2024 | 375.05 | 307.45 | 344.21 |
| May-2024 | 352.90 | 327.80 | 341.52 |
| Apr-2024 | 359.65 | 300.65 | 334.13 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jun-2024 | 375.30 | 307.95 | 344.29 |
| May-2024 | 352.95 | 327.85 | 341.59 |
| Apr-2024 | 359.50 | 300.55 | 334.20 |
The Buyback is being undertaken, inter-alia, for the following reasons:
Indus Towers Ltd.
Building No. 10, Tower A,
4th Floor, DLF Cyber City
Gurugram-122002,
Lead Manager(s)
Registered Broker
The Indus Towers Buyback 2024 opens on August 14, 2024, and closes on August 21, 2024.
Last date to be eligible to participate in buyback is August 8, 2024.
The Indus Towers Buyback 2024 is a Tender Offer.
Indus Towers Buyback 2024 Schedule
| Buyback Opening Date | August 14, 2024 |
| Buyback Closing Date | August 21, 2024 |
| Last Date for receipt of Tender Forms | August 21, 2024 |
| Finalisation of Buyback Acceptance | August 27, 2024 |
| Last Date for settlment of bids | August 28, 2024 |
| Last Date for Extinguishment of Shares | September 6, 2024 |
The Indus Towers Buyback 2024 is being offered at Rs ₹465 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 1 Equity Shares out of every 4 Fully paid-up Equity Shares held on the Record Date. | 8,516,129.00 |
| General Category for all other Eligible Shareholders | 5 Equity Shares out of every 139 Fully paid-up Equity Shares held on the Record Date. | 48,258,064.00 |
The issue size of Indus Towers Buyback 2024 is 5,67,74,193 equity shares at ₹465 per share aggregating up to ₹2,640.00 Crores.
The Buyback is being undertaken, inter-alia, for the following reasons:
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The Indus Towers Buyback 2024 offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
