Majority Shareholders Approve Bharti Hexacom’s ₹1,134 Crore Tower Transaction

Bharti Hexacom Ltd, a subsidiary of Bharti Airtel, has received shareholder approval to sell its mobile tower assets worth ₹1,134 crore to its sister concern, Indus Towers Limited. The resolution, which involved a significant related party transaction, was passed with 88.28% shareholder votes during the company’s 30th Annual General Meeting (AGM).

The sale of mobile towers is expected to strengthen telecom infrastructure and optimize operations for the Bharti Airtel group. However, Telecom Consultants of India (TCIL), which holds a 15% stake in Bharti Hexacom, opposed the deal citing valuation concerns. Despite this, the majority of institutional and retail shareholders supported the proposal, making it a key step in Bharti’s broader strategy to consolidate assets within its telecom ecosystem.

Interestingly, around 2.5% of public non-institutional shareholders voted against the resolution, highlighting ongoing debates around transparency and valuation in the Indian telecom sector.

With this approval, Bharti Hexacom aims to strengthen its partnership with Indus Towers, one of India’s largest telecom tower infrastructure providers, ensuring better network coverage, 5G readiness, and cost efficiency across key markets. This move comes at a time when India’s telecom industry is witnessing rapid digital adoption, competitive tariff strategies by Reliance Jio, Vodafone Idea, and Bharti Airtel, and increasing demand for reliable infrastructure to support 5G services.