On Friday, Shares of Vodafone Idea Ltd. rallied 4 per cent in the early trade, after receiving Rs 3,760 crore from selling its 11.15 per cent stake in Indus Towers. 
The stake sold was the part of merger between the Bharti Infratel Ltd. and Indus Towers and the proceeds from the divestment will be utilised for partially paying its government dues. At 9:41am, the shares of Vodafone Idea Ltd. were trading 3.88 per cent up from its previous close at Rs 9.63 per share on the BSE, while the benchmark Sensex ahead 0.48 per cent at 43,807.72 points.
The rally in the share price was also supported by the talks of US-based Oaktree Capital Management and Varde Partners for investing up to Rs $2.5 billion in the cash-strapped telecom operator, Vodafone Idea which owes more than Rs 50,000 crore to the department of telecommunications in the Adjusted Gross Revenue (AGR) dues.
On September 1, the board of Bharti Infratel had approved the long-pending merger with Indus Towers announced in April 2018, for creating the world’s largest mobile tower operator outside China was complete on Thursday, said Bharti Infratel in an exchange filing.