AZB & Partners served as legal advisors to Indus Towers Limited (Indus) for its share buyback of up to 5,67,74,193 fully paid equity shares, accounting for 2.107% of Indus’s total paid-up equity, amounting to INR 2,640 crore via the tender offer route.
Additionally, AZB guided Bharti Airtel Limited (Airtel) in obtaining unconditional approval from the Competition Commission of India, facilitating Airtel’s increased shareholding in Indus following the buyback.
The AZB team for this transaction was headed by Senior Partners Anil Kasturi and Niladri Maulik, with contributions from Partner Ankit Tandon, Senior Associate Shubham Toshniwal, and Associate Vidit Parmar. Partner Hemangini Dadwal led the competition team, supported by Senior Associate Nitin Nair and Associates Rishabh Jain and Ojasvi Mishra.
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