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Vodafone Plc's stake sale may ease Indus's chronic pain
Mint Mumbai
|December 10, 2024
Indus Towers Ltd is set to get some relief from Vodafone Plc's announcement that it will sell its stake of 3% in the company.
Out of the estimated proceeds worth ₹2,800 crore, an amount of ₹1,900 crore would be used to repay Vodafone Idea Ltd's (Vi) past dues to Indus, which stood at ₹3,500 crore in September.
The development can boost Indus's FY25 free cash flow (FCF) to ₹6,200 crore, said IIFL Securities Ltd, adding that the firm has a payout policy of 100% of FCF, implying a potential dividend of ₹3,600 crore for the rest of FY25.
Denne historien er fra December 10, 2024-utgaven av Mint Mumbai.
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