VIL stock surged 5 per cent to hit an intraday high of Rs 8.62. It eventually settled 2.44 per cent up at Rs 8.41. Indus Towers, on its part, rose 2.19 per cent to hit a high of Rs 361.35. The scrip finally closed with 1.

Vodafone PLC will sell its remaining 3% stake in Indus Towers to repay Vodafone Idea's debt. The proceeds may also be used to invest in Vi's new equity issue. This news boosted shares of both Vodafone Idea and Indus Towers.

Vodafone has been actively seeking to sell down its stake in Indus Towers since 2022, gradually reducing its stake from 28% to 21.5% earlier this year. In June, the company announced it was looking to sell a further 10% in the company, but a surge of interest saw them reconsider the scale of the stake sale.

"Vodafone Group Plc announces that it has launched a placing of its remaining 79.2 million shares in Indus Towers Limited representing 3 per cent of Indus' outstanding share capital through an accelerated book build offering,

Vodafone to sell 3% stake in Indus Towers for Rs 2,841 crore to clear debt and pay outstanding dues of its Indian venture Vodafone Idea.

Vodafone Group Plc is selling its remaining 3% stake in Indus Towers through a block deal. The proceeds will be used to repay Vodafone Idea's debt and potentially invest in Vi's new equity issue. This move will fully exit Vodafone from Indus Towers.

Vodafone Group Plc is to sell its remaining stake in India’s Indus Towers Ltd. after offloading $1.8 billion worth of shares in June.

Vodafone Group is seeking to raise as much as $335 million from the sale of its remaining stake in India's Indus Towers. Why it matters: India's soaring stock market has prompted international companies invested in domestic businesses to cash out of positions and lock in gains.