Indus Tower expects the ongoing network expansion and 5G roll-outs, supplemented by the encouraging developments around a major customer s fund raise to provide a fillip to company s growth.
Indus Towers expects cash flows to improve in FY25 as its confident of quickly recovering its backlog of past dues from key customer, Vodafone Idea (Vi), especially as the latter has recently raised Rs 18,000 crore via the follow-on public offer (FPO) route.
Earlier reports had said that Airtel was in conversation with Vodafone group to potentially acquire a controlling stake in Indus Towers. Airtel has now, in a letter to the exchanges, clarified that such is not the case.