Vodafone Group moved to sell off its remaining 3 per cent stake in India infrastructure player Indus Towers, a few months after offloading an 18 per cent holding for INR153 billion ($1.8 billion).

In a filing, Vodafone stated it had begun a process to sell its remaining 79.2 million shares through a placing.

Based on Indus Towers’ closing share price, the shares are worth around $330 million.

Vodafone explained it would use the proceeds to repay borrowings of $101 million secured against its Indian assets.

It is Vodafone CEO Margherita Della Valle’s latest efforts to cut the company’s exposure to international markets.

Vodafone sold most of its stake in the infrastructure company in June, offloading 484.7 million shares to equity investors. The stake sold at the time was bigger than originally planned, due to strong demand.

Indus Towers’ largest shareholder is Indian operator Bharti Airtel, which held around 49 per cent as of September.