Bharti Hexacom Puts Infrastructure Business Sale to Indus Towers on Hold

Bharti Hexacom on Wednesday said that it has put the sale of its infrastructure business to Indus Towers in abeyance. In February, Indus Towers announced that it would acquire the mobile sites of Bharti Airtel Limited and Bharti Hexacom Limited for Rs 3,308.7 crore. The transaction is now on hold.

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Also Read: Indus to Acquire Telecom Towers of Bharti Airtel and Hexacom for Rs 3,308.7 Crore

TCIL’s Role and Request for a Fresh Process

Bharti Hexacom, in a regulatory filing on April 9, 2025, said, “Telecommunications Consultants India Limited (TCIL), a public sector undertaking and a significant shareholder of Bharti Hexacom, has requested the Company to start a fresh process, which meets the requirements of TCIL as a Public Sector Undertaking.”

“The management and the Board of Bharti Hexacom remain convinced about the business logic and merit of the proposal, however in keeping with the highest standards of corporate governance and transparency, it has been agreed to put the current proposal in abeyance and undertake a fresh exercise in consultation with TCIL. Any further development in this regard will be duly informed to all the stakeholders,” the statement further added.

Also Read: Indus Towers Reports Rs 4,003 Crore Profit in Q3, Enters EV Charging Market

Transaction Details of Tower Transfer

As previously reported, the boards of Bharti Airtel and Bharti Hexacom have approved the sale/transfer of approximately 12,700 telecom towers and 3,400 telecom towers for Rs 2,147.6 crore and Rs 1,134 crore, respectively. The deal excludes the transfer of sites installed under Universal Service Obligation Fund (USOF) projects.