US investment major Citigroup acquired shares in struggling telecom company Vodafone Idea Ltd. for Rs 611 crore, after the local arm of American Tower Corp. divested its entire stake via open market transactions on Friday.
purchased 49.12 crore shares at Rs 12.7 apiece, according to bulk deal data on the NSE.
offloaded 144 crore shares, or 2.95%, for Rs 1,840 crore.
ATC, in March, converted 14,400 optionally convertible debentures into fully paid-up equity shares for Rs 1,440 crore.
Vodafone Idea issued Rs 1,600 crore OCDs to the company in February 2023, after receiving approval from stakeholders and stock exchanges.
US investment major Citigroup acquired shares in struggling telecom company Vodafone Idea Ltd. for Rs 611 crore, after the local arm of American Tower Corp. divested its entire stake via open market transactions on Friday.
Citigroup Global Markets Mauritius Pvt. purchased 49.12 crore shares at Rs 12.7 apiece, according to bulk deal data on the NSE. It represents 0.98% equity in the Aditya Birla Group company.
ATC Telecom Infrastructure Pvt. offloaded 144 crore shares, or 2.95%, for Rs 1,840 crore. The shares were sold at Rs 12.78 apiece.
NDTV Profit had earlier reported that ATC sold its entire holding in the ailing telecom operator, citing people with knowledge of the matter.
ATC, in March, converted 14,400 optionally convertible debentures into fully paid-up equity shares for Rs 1,440 crore. Vodafone Idea issued Rs 1,600 crore OCDs to the company in February 2023, after receiving approval from stakeholders and stock exchanges.
