The tower company had informed the exchanges last week that the board plans on enhancing shareholder value through either a share buyback, bonus issue of shares or debentures or dividends.
“After detailed deliberations, the board has decided to constitute a committee to comprehensively evaluate all options and dimensions and make a suitable recommendation to the board for a final decision,” Indus Towers said in its exchange filing.
This would have been the first instance of 4 lakh small shareholders of Indus Towers receiving bonus shares, in case such an announcement would have been made.
Indus Towers had carried out a share buyback in 2024, its first after 2016. The stock is still trading below its share buyback price of ₹465 per share, having made a 52-week high of ₹460.
Brokerages were anticipating dividends between ₹10 to ₹20 per share from Indus Towers this time around, after its largest customer, Vodafone Idea began clearing all of its dues.
For the March quarter, Indus Towers reported a 4% drop in its net profit due to an accounting change, while revenue went up by 7.4% from last year to ₹7,727 crore.
Shares of Indus Towers ended 1% higher on Wednesday at ₹406.5. The stock has risen 15% in the last one month.
