Bharti Hexacom's ₹1134 Cr Tower Deal Paused After TCIL Intervention
Published • 10 April 2025 at 12:57 PM
₹1134 Cr Hexacom-Indus Deal on Hold Due to TCIL Concerns
Bharti Hexacom, a subsidiary of Bharti Airtel, has paused its ₹1,134 crore tower sale deal with Indus Towers after Telecommunications Consultants India Ltd (TCIL), which holds a 15% stake in the company, intervened. TCIL requested a new process aligned with public sector norms, including asset valuation, bidding, and approvals. Bharti Hexacom stated the deal's merits remain, but in the interest of transparency and governance, a fresh exercise will be conducted with TCIL’s involvement. Originally, Bharti Hexacom was set to sell 3,400 towers to Indus Towers, while Bharti Airtel was to offload 12,700 towers worth ₹2,174.6 crore. While Airtel’s deal is complete, Hexacom's sale has been put in abeyance. Analysts noted that Bharti may prefer to avoid an open bidding process since Indus Towers is also a Bharti Airtel subsidiary. Indus Towers currently operates over 234,000 towers and competes with Brookfield-owned Altius. TCIL, a government-run telecom and IT consultancy, helped form Hexacom India in 1995, later renamed Bharti Hexacom in 2004 after Airtel took majority control.
TCIL Halts Bharti Hexacom's ₹1134 Cr Indus Towers Deal
- Bharti Hexacom, a Bharti Airtel subsidiary, has paused its ₹1,134 crore tower sale to Indus Towers.
- The decision follows intervention by TCIL, a public sector entity holding 15% stake in Hexacom.
- TCIL requested a fresh sale process complying with PSU norms including asset valuation, bidding, and approvals.
- Bharti Hexacom affirmed the deal’s business merit, but will proceed with a new process for governance and transparency.
- Hexacom was to sell 3,400 towers, while Bharti Airtel finalized the sale of 12,700 towers worth ₹2,174.6 crore.
- The Indus-Airtel deal is completed, but the Hexacom sale is now on hold.
- Analysts suggest Bharti may avoid an open bidding process as Indus Towers is also an Airtel affiliate.
- Indus Towers operates 234,000+ towers, competing with Brookfield-backed Altius.
- TCIL helped form Hexacom India in 1995; it became Bharti Hexacom in 2004 after Airtel gained majority control.
