Indus Towers has approved a share buyback of up to 5.67 crore equity shares, representing 2.1% of its total equity, for a total consideration of ₹2,640 crore.
The buyback will occur via the "Tender Offer" route at a price of ₹465 per share, reflecting a 4% premium over Tuesday's closing price of ₹447.95. This marks Indus Towers' first buyback in eight years, with the record date set for August 9, 2024.