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Vodafone Group is seeking to raise as much as $335 million from the sale of its remaining stake in India's Indus Towers.

Why it matters: India's soaring stock market has prompted international companies invested in domestic businesses to cash out of positions and lock in gains.

Zoom in: The U.K.-based telecom company is selling 79.2 million shares, representing a 3% stake, with some of the proceeds to be used to pay down debt, the company announced on Wednesday.

Vodafone sold an 18% stake in Indus Towers in June.

The big picture: India's BSE Sensex stock index is up 17% this year, hitting 80,000 on Wednesday. After years of flatlining, the index went on a tear in 2016, when the index was at 26,000.

The stock market run-up in Asia's third-largest economy has prompted other international investors to sell stakes in Indian subsidiaries.

Secondary sales in the country are set to hit a record $25 billion this year, Bloomberg reported.

Vodafone dials up India tower stake sale for $335M cash inflow

International companies are cashing in on a booming stock market.

Mobile and electric towers in New Delhi, India. Photo: Sebastian Gollnow, Getty Images

Vodafone Group is seeking to raise as much as $335 million from the sale of its remaining stake in India&#x27;s Indus Towers.Why it matters: India&#x27;s soaring stock market has prompted international companies invested in domestic businesses to cash out of positions and lock in gains.

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Vodafone dials up India tower stake sale for $335M cash inflow

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