Indus Towers

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Indus Towers
FormerlyBharti Infratel Limited
ISININE121J01017
Founded2006; 15 years ago (2006)
HeadquartersDLF Cyber City, Gurgaon,
India
Number of locations
22 Telecom Circles
Area served
Worldwide
Key people
  • Bimal Dayal (CEO)
RevenueUS$2 Billion
Number of employees
1001-5000
ParentBharti Airtel
WebsiteOfficial website

Indus Towers Limited is an independently managed company offering passive infrastructure services to telecom operators and other wireless services providers such as broadband service providers. Incorporated in November 2006,[1] Indus Towers Limited has been promoted under a joint venture between entities of Bharti Group including Bharti Infratel (rendering telecom and tower infrastructure services in India under the brand name Airtel and Bharti Infratel Limited respectively) and Vodafone Idea Limited (rendering telecom services under the brand name Vodafone and Idea) to render passive infrastructure services to telecom service providers.[2]

Indus Towers Limited has over 172,094 towers and 314,106 co-locations and a nationwide presence covering all 22 telecom circles,[3] It has the widest coverage in India and has already achieved 288,013 tenancies, a first in the telecom tower industry globally.[4][5] Indus Towers Limited is formed by the merger of Bharti Infratel Limited and Indus Towers. This combined strength makes Indus Towers one of the largest telecom tower companies in the world.[6][7][8][9] Some of its major customers are Airtel, Bharti Hexacom, Vodafone Idea Limited and Reliance Jio.[3]

History[]

Indus Towers Limited was founded in November 2006. It was incorporated with an objective to provide shared telecom infrastructure to telecom operators on a non-discriminatory basis.[10]

Merger with Bharti Infratel[]

In 2017, reports suggested that Bharti Infratel, who already owns 42% of Indus Towers, was looking to acquire the 53% stake in Indus Towers,[11] currently owned by Vodacom Group Plc.[12] However, in July, the head of Vodafone stated that they were "actively considering" a float of their stake in Indus Towers. Vodafone went on to deliver a formal mandate to both Bank of America Merrill Lynch and Morgan Stanley to finalize buyers.[13][14]

On 25 April 2018, Bharti Infratel and Vodafone Group issued a joint statement announcing the merger of Bharti Infratel and Indus Towers to create the second largest telecom tower company in the world. Under the terms of the agreement, Bharti Infratel will transfer 1,565 of its own shares for each Indus Towers share valuing the latter at $10 billion. Other major shareholders in Indus Towers such as Idea Cellular and Providence Equity Partners would be provided an option to cash out. Bharti Airtel, the parent company of Bharti Infratel, will hold the largest stake in the newly merged entity.[15] Prior to the merger, shareholding in Indus Towers was Bharti Infratel (42%), Vodafone Group (42%), Idea Cellular (11.15%) and Providence Equity Partners (4.85%).[16]

Website[]

The website industowers.com attracted 4,82,429 users in the year 2019. Indus Towers website allow users to register their land for mobile tower installation.[citation needed]

Key people[]

Bimal Dayal is the current CEO of Indus Towers Limited.[17]

Awards and recognition[]

Year Award(s) Awarding organisation Result/Rank Ref.
2021 Gallup Exceptional Workplace Award Gallup Won [18]
2019 India's Best Companies To Work For The Economic Times, Great Place to Work #9
2019 Operational Excellence Leadership Category
Process Innovation Leadership Category, Manufacturing Sector		 Frost and Sullivan First Runner-up [19]
2019 Dun & Bradstreet Corporate Award
Telecom Equipment & Infra Services category		 Dun & Bradstreet Won [20]
2019 Smart Cities India Award 6th Smart Cities India Expo Won [21]
2018 Deming Prize Japanese Union of Scientists and Engineers Won [22]
2018 Top Innovative Company (Large) in Services
at CII Industrial Innovations Awards		 Confederation of Indian Industry Won [23]
2018 CSR Leadership Award (Best CSR Practices) ET Now Won [24]

References[]

  1. ^ "Indus Towers". sec.gov.
  2. ^ "Belgium Luxembourg Business Association - New Delhi - Indus Towers: Keeping an all-seeing eye on India's telecom infrastructure". blbanewdelhi.org. Retrieved 25 July 2017.
  3. ^ Jump up to: a b Guha, Ishita (28 January 2021). "Indus Towers Q3 net profit up 2% at ₹1,360 crore". Livemint.
  4. ^ Sengupta, Devina; Banerjee, Niharika (22 March 2017). "Merger to give Vodafone, Idea edge in divesting Indus Towers stakes". The Economic Times. Retrieved 25 July 2017.
  5. ^ Aulakh, Gulveen (29 November 2016). "Indus Towers to invest Rs 100 crore to set up 500 new sites across India". The Economic Times. Retrieved 25 July 2017.
  6. ^ "Bharti Infratel gets RoC nod for change of name to Indus Towers post mega merger". The Economic Times. 14 December 2020.
  7. ^ "Bharti Infratel, Indus merger complete; VIL gets ₹3,760 cr in cash for 11.15% holding in Indus". The Hindu. 20 November 2020.
  8. ^ Gupta, Deepali; Barman, Arijit (25 April 2018). "Bharti Infratel ringing in merger with Indus to create world's largest telco t". The Economic Times.
  9. ^ "Largest tower company in world outside China! Indus Towers, Bharti Infratel merger complete". Business Today. 20 November 2020.
  10. ^ "TERI and Indus Towers jointly ink MoU on developing innovative renewable energy solutions". The Financial Express. Retrieved 25 July 2017.
  11. ^ "Subscribe to read". Financial Times. Retrieved 25 July 2017. Cite uses generic title (help)
  12. ^ Alexander, George Smith (1 June 2017). "Bharti Infratel said to sound out banks to fund $8 billion Indus Towers deal". livemint.com/. Retrieved 25 July 2017.
  13. ^ Parbat, Kalyan; Kalesh, Baiju (1 July 2017). "Tower sale plan of Vodafone, Idea gathers steam ahead of merger". The Economic Times. Retrieved 25 July 2017.
  14. ^ "Vodafone India-Idea merger on fast track: Individual towers to be sold at the earliest". Business Insider. Retrieved 25 July 2017.
  15. ^ "India's Bharti Infratel, Indus merging to form $14.6 billion..." Reuters. 25 April 2018. Retrieved 29 March 2019.
  16. ^ Sengupta, Devina (9 January 2019). "Bharti Infratel-Indus Towers merger likely to complete in the first quarter of next fiscal". The Economic Times. Retrieved 29 March 2019.
  17. ^ "Bimal Dayal appointed CEO of Indus Towers". Communications Today. 15 December 2020.
  18. ^ Harter, Jim; Rubenstein, Kristi; McLain, Denise (18 March 2021). "Announcing the 2021 Gallup Exceptional Workplace Award Winners". Gallup.com.
  19. ^ "Frost and Sullivan Award" (PDF). frost.com.
  20. ^ "Dun & Bradstreet India hosts 'Corporate Awards 2019'". dnb.co.in. 29 May 2019.
  21. ^ "Winners 2018".
  22. ^ "Winners of Smart Cities India Awards 2019". Smartcitiesindia.com.
  23. ^ "Winners 2018".
  24. ^ "CSR Leadership Award". worldcsrday.com.
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