VARINDIA IT MAGAZINE

According to the latest reports, Bharti Airtel's tower subsidiary Bharti Infratel and Indus Towers have decided to merge their companies to create one entity. With a combined revenue of around Rs.25,360 crore, and 1.63 lakh towers across 22 telecom service areas of the country, this new pan-India tower company, which will be named Indus Towers Ltd, will easily become the world's largest tower company. However, as per the reports, Bharti Airtel is planning a stake sale in the new tower company that will be formed after the merger. The company in a regulatory statement said, "The board has decided to engage with the potential investors for evaluating a strategic stake sale post the completion of the merger." The merger between Bharti Infratel and Indus Towers is happening at a time when Bharti Airtel's tower arm registered 8-per cent annual growth in revenues to Rs.14,490 crore, while its net profit slipped by 9 per cent to Rs.2,494 crore. The ...

Indus Towers has appointed Hemant Kumar Ruia as its Chief Financial Officer . With experience of over 23 years, he holds an experience in Business Partnering, Funds Management, Information Systems, Legal and Secretarial and other aspects of leading the finance function across diverse industries in various organizations. Speaking on the occasion, Bimal Dayal, CEO, Indus Towers , said, “I would like to congratulate Hemant on his new role and wish him success. The first step towards building an institution is to build a great team. I am very happy to announce that Hemant joins the leadership team at Indus. I am confident that Hemant will scale greater heights and further strengthen the strong foundation of the company with his knowledge and experience.” Read more