Bharti Infratel gets RoC approval to rename as Indus Towers, post-merger
Bharti Infratel, an India-based telecommunications infrastructure company, has secured approval from the Indian Registrar of Companies (RoC) for its application to rename itself as Indus Towers.
In November 2020, Bharti Infratel, which is a subsidiary of Bharti Airtel, wrapped up a previously announced merger with Indus Towers, an infrastructure services provider to all telecom operators and other wireless services providers, in a move to create a mega tower company.
Vodafone Idea, which sold an 11.15% stake in Indus Towers to facilitate the merger received nearly INR 37.6 billion ($510 million) in cash.
Bharti Infratel has launched a due process for getting final approval from stock exchanges for updating the name change.
Bharti Infratel gets RoC approval to rename as Indus Towers, post-merger. Photo courtesy of MaxwellFury from Pixabay.
In a BSE filing, the telecommunications infrastructure company stated: “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 connection, the Registrar of Companies granted a fresh certificate of incorporation for the name change, saying: “Please note that the name of the company has been changed from Bharti lnfratel Limited to Indus Towers Limited, wherever appearing in the Memorandum of Association (MOA) and Articles of Association (AOA) of the company.”