India’s S&R Associates has guided Vodafone Group on the $1.82 billion bulk sale of an 18 percent holding in Indian telecommunications tower company Indus Towers.

Vodafone, which owned 21.5 percent of Indus prior to the sale, had initially planned to sell a 10 percent stake, but strong investor demand made it nearly double the sale size, Reuters reported quoting an anonymous source.

The S&R team was led by partners Rajat Sethi, Lakshmi Pradeep and Meher Mehta, and included associates Komal Parakh, Aakriti Jalota and Rohin Goyal.

Bharti Airtel, India's second biggest telecom company and a promoter of Indus, said it bought about 1 percent of Indus shares in the transaction, bringing its stake in the mobile tower operator to around 49 percent.