Shares of Bharti Airtel Ltd are in focus on Wednesday after shareholders of the telco cleared the sale of its passive infrastructure business—which includes mobile and wireless communication towers—to its subsidiary Indus Towers Ltd via remote e-voting.
The proposal, termed as a material related party transaction, received 99.85% of votes in favour.
The e-voting period was from February 15, 2025 to March 16, 2025 , with the results declared on March 18, 2025, said a regulatory filing with NSE and BSE.
The telco said this approval marks a crucial step in its strategic initiatives, allowing it to streamline its business operations and enhance focus on core telecom services.
Airtel shares ended 0.69% lower at Rs 1628.15 on Tuesday on BSE.
The large cap stock has gained 2 per cent this year and risen 33% in a year. Bharti Airtel’s market cap fell to Rs 9.28 lakh crore. Total 1.10 lakh shares changed hands amounting to a turnover of Rs18.01 crore on BSE.