| Dear Sir / Madam,
The Company in its Board meeting held on April 24 2018 received the recommendation from its Committee of Directors and accordingly reviewed the options with regard to its stake in its subsidiary Bharti Infratel Ltd. The Board evaluated two options - one an offer for sale of significant stake in Bharti Infratel Ltd. from a consortium of leading PE investors and the other a proposal for merger of Indus Towers Ltd into Bharti Infratel Ltd.
The Board after due deliberations approved the proposal for merger of Indus Towers Ltd into Bharti Infratel Ltd. The Board decided to engage with the potential investors for evaluating a strategic stake sale post the completion of merger.
Kindly take the same on record.
In furtherance to the press release dated April 25, 2018 filed by the Company earlier during the day, we are enclosing the details under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Clause 1.2 of Annexure I of the SEBI Circular No. CIR /CFD/CMD/4/2015 dated September 9, 2015.
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, we are pleased to inform you that approval of Competition Commission of India (CCI) has been received for the proposed merger of Bharti Infratel Limited and Indus Towers Limited.
(As per BSE Announcement dated on 02/07/2018)
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that subsequent to completion of Vodafone-Idea merger and their Scheme becoming effective from August 31, 2018, Bharti Infratel Limited ('the Company') and Indus Towers Limited where the Company holds 42% equity, have received exit notices, which would result in exit of 27,447 co-locations for the Company on a consolidated basis. The aforesaid co-locations contribute to 13.7% of the total co-locations on a consolidated basis as on June 30, 2018.
This is likely to result in a net reduction of consolidated service revenue of approx. Rs. 60- 65 crores per month w.e.f. September 1, 2018. We expect that this will be mitigated by exit charges and incremental revenues on account of anticipated new network rollouts by the operators going forward.
(As Per BSE Announcement Dated on 05.09.2018)
Please find enclosed the copy of advertisements w.r.t. advertisement of the Notices of Tribunal Convened Meetings of the Equity Shareholders and Unsecured Creditors of Bharti Infratel Limited for the following purpose:
To consider, and if thought fit, approving with or without modification(s), the proposed scheme of amalgamation and arrangement ('Scheme') between Indus Towers Limited ('Transferor Company') and Bharti Infratel Limited ('Transferee Company') and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.
The advertisement is published in Business Standard (English) and Hindustan (Hindi), both Delhi NCR edition dated December 31, 2018, as stated in the order of the Hon'ble Chandigarh Bench of the National Company Law Tribunal at Chandigarh.
Kindly take the same on record.
(As Per BSE Announcement Dated on 31.12.2018)
In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that Mr. D S Rawat, the current MD & CEO, Bharti Infratel Limited has informed the Board of Directors in its meeting today that post the merger of Bharti Infratel Limited and Indus Towers Limited, he intends to continue within Bharti Group in a senior role and accordingly would not like to be considered for the role of MD & CEO of the merged entity.
He would continue to be the MD & CEO of Bharti Infratel Limited till the merger is completed and would be actively engaged in ensuring smooth integration of the two entities.
Kindly take the above information on record.
(As Per BSE Announcement Dated 24.04.2019)
Pursuant to Regulation 30(7) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform you that Hon'ble National Company Law Tribunal (NCLT), Chandigarh Bench, vide its order dated May 31, 2019, has sanctioned the scheme of amalgamation and arrangement between Indus Towers Limited (Transferor Company) and Bharti Infratel Limited (Transferee Company) and their respective shareholders and creditors under Section 230 to 232 of the Companies Act, 2013 (the 'Scheme'). Copy of the order of Hon'ble NCLT is enclosed.
The Scheme shall become effective on the date on which certified copy of the order of Hon'ble NCLT is filed with Registrar of Companies upon fulfilment/ waiver of other conditions prescribed in the Scheme. The effective date will be communicated to the Stock Exchanges for further public dissemination as and when the Scheme becomes effective. Kindly take the above information on record.
Pursuant to Regulation 30(7) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform you that Hon'ble National Company Law Tribunal (NCLT), Chandigarh Bench, vide its order dated May 31, 2019, has sanctioned the scheme of amalgamation and arrangement between Indus Towers Limited (Transferor Company) and Bharti Infratel Limited (Transferee Company) and their respective shareholders and creditors under Section 230 to 232 of the Companies Act, 2013 (the 'Scheme'). Copy of the order of Hon'ble NCLT is enclosed.
The Scheme shall become effective on the date on which certified copy of the order of Hon'ble NCLT is filed with Registrar of Companies upon fulfilment/ waiver of other conditions prescribed in the Scheme. The effective date will be communicated to the Stock Exchanges for further public dissemination as and when the Scheme becomes effective. Kindly take the above information on record.
(As Per BSE Announcement Dated on 01.06.2019)
Update on Scheme of amalgamation and arrangement between Indus Towers Limited and Bharti Infratel Limited under Regulation 30 of SEBI (LODR) Regulations, 2015
(As Per BSE Announcement dated on 21/10/2019)
Update on Scheme of amalgamation and arrangement between Indus Towers Limited (Indus) and Bharti Infratel Limited (Bharti Infratel) under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
(As Per BSE Announcement Dated 25.10.2019)
Further to our letter dated October 24, 2019, we wish to inform you that the requisite Government approvals have not been received till date, and consequently, conditions precedent could not be completed within the extended timeline i.e. December 24, 2019.
The Board of Directors have further extended the long stop date till February 24, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme.
Completion of merger is contingent upon receipt of requisite regulatory approvals and fulfillment of other conditions precedent. There can be no assurance that the merger can be completed within the extended time-frame.
Kindly take the same on record.
(As Per BSE Announcement Dated on 24/12/2019)
Further to our update on February 22, 2020, the Board of Directors of the Company met earlier today and took note of the FDI approval for merger of Indus Towers Limited with Bharti Infratel Limited received late evening on February 21, 2020.
Since the other actions/conditions precedent to be fulfilled for the Scheme to become effective cannot be completed by the extended Long Stop Date i.e. February 24, 2020, the Board of Directors have further extended the Long Stop Date till April 24, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme.
The final decision to implement the scheme will be taken by the Board keeping in mind the best interest of the Company and its stakeholders including the assessment of the current crisis facing the telecom industry and the extent of its impact on the Company's major customers.
Kindly take the same on record.
(As Per BSE Announcement Dated 24.02.2020)
The Board of Directors of the Company met earlier today and took note of the status of Scheme of arrangement between Indus and Bharti Infratel.
Since the conditions precedent to be fulfilled for the Scheme to become effective cannot be completed by the extended Long Stop Date i.e. April 24, 2020, the Board of Directors have further extended the Long Stop Date till June 24, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme.
The final decision to implement the scheme will be taken by the Board keeping in mind the best interest of the Company and its stakeholders.
(As Per BSE Announcement dated on 23.04.2020)
The Company has intimated the exchange regarding an update on equity stake in Indus Towers
(As Per BSE Announcement Dated on 24.04.2020)
The Board of Directors of the Company met earlier today and took note of the status of Scheme of arrangement between Indus and Bharti Infratel. Since the conditions precedent to be fulfilled for the Scheme to become effective cannot be completed by the extended Long Stop Date i.e. June 24, 2020, the Board of Directors have further extended the Long Stop Date till August 31, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme. The final decision to implement the scheme will be taken by the Board keeping in mind the best interest of the Company and its stakeholders.
The Company has intimated the exchange regarding an update on equity stake in Indus Towers Limited
(As Per BSE Announcement Dated on 24.06.2020)
Update on Scheme of amalgamation and arrangement between Indus Towers Limited ('Indus') and Bharti Infratel Limited ('the Company') ('Scheme') under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
(As Per BSE Announcement Dated on 01.09.2020)
Further to our communication dated September 1, 2020, please find attached press release issued by Vodafone Group Plc. for your information.
(As Per BSE Announcement Dated on 05.10.2020)
Further to our intimation dated September 1, 2020, an application was filed with Hon'ble National Company Law Tribunal (NCLT), Chandigarh on October 3, 2020 for seeking extension of time for filing of the certified copy of NCLT order approving the Scheme with the Registrar of Companies. This application was heard today (October 22, 2020) and has been allowed. The formal order of the NCLT is awaited. The Scheme shall become effective on the date on which certified copy of the order of NCLT is filed with Registrar of Companies upon fulfilment/ waiver of other conditions precedent in the Scheme.
(As Per BSE Announcement dated on 22.10.2020)
Disclosure under Regulation 30 of Listing Regulations
The Company has intimated the exchange regarding an update on Bharti Infratel and Indus Towers Merger.
Further to our joint press release dated April 25, 2018, we wish to inform you that merger of Indus Towers Limited and Bharti Infratel Limited (together the 'Combined entity') has been completed today. The Combined entity, to be renamed as Indus Towers limited, is listed on the National Stock Exchange of India Limited and BSE Limited.
Upon implementation of the Scheme, the aggregate shareholding of the Company (alongwith Nettle Infrastructure Investments Limited, a wholly-owned subsidiary) in the combined entity shall be changed from 53.51% to 36.73%.
For further detailed information, the communication dt. November 19, 2020 issued by Bharti Infratel Limited in this regard, may be referred.
Kindly take the above information on record.
(As per BSE Announcement Dated on 19/11/2020)
Further to our letter dated November 19, 2020, we wish to inform you that Company has received approval from the Registrar of Companies, NCT of Delhi and Haryana for change of name of the Company from Bharti Infratel Limited to Indus Towers Limited as provided in the Scheme of amalgamation and arrangement between the Company and erstwhile Indus Towers Limited and their respective shareholders and creditors. In this regard, the Registrar of Companies has issued a fresh certificate of incorporation dated December 10, 2020 certifying the name change.
Consequently, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please note that the name of the Company has been changed from Bharti Infratel Limited to Indus Towers Limited, wherever appearing in the Memorandum of Association (MOA) and Articles of Association (AOA) of the Company. Copy of MOA and AOA of the Company along with the fresh Certificate of Incorporation are attached herewith.
(As per BSE Announcement Dated on 11/12/2020) | | Powered by Capital Market - Live News |
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