Bharti Airtel on Monday said its board has approved the acquisition of a 5 per cent additional stake in its telecom infrastructure subsidiary Indus Towers .

Bharti Airtel holds a 51.03 per cent stake in Indus Towers as of September 30.

However, the company, in a filing, said that “acquisition doesn’t fall within related party transaction(s)”.

“A Special Committee of Directors…has granted an enabling approval for acquisition of up to 5 per cent additional stake in Indus Towers Limited, a subsidiary company, in one or more tranches over a period of time,” Airtel said in the filing.

Based on Indus Tower’s Monday closing price of Rs 382.70 on BSE, the 5 per cent stake is worth over Rs 5,000 crore.

Airtel said that the acquisition will be subject to prevailing market conditions, includi

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