Indus Towers Block Deals News: 7.92 crore equity shares change hands in pre-open trade

Midcap telecom equipment company Indus Towers shares will remain in focus as in the pre-opening trade 7.92 crore shares changed hands in the pre-opening trade.

In early trade today, the stock zoomed up to 5 per cent to the day's high price of Rs 376 per share on the BSE.

There was expected as a block deal worth Rs 2,700 crore is expected in the counter. As per Zee Business research inputs, Vodafone PLC units Omega Telecom as well as  Usha Martin Tele may offload 3 per cent stake in the entity at a price of Rs 343-358 per share.

At the upper price band, this is a discount of 0.21 per cent from the previous day's close.

Vodafone Group PLC holds equity shares in the Company through its indirect wholly owned subsidiaries, Omega Telecom Holdings Pvt Ltd and Usha Martin Telematics Limited. During the quarter, the referred entities participated in the Buyback and their combined shareholding in the Company as on September 30, 2024, stands at ~3.003% of total share capital of the Company, highlighted the BSE data.