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Friday, September 11, 2009

Quippo Telecom may list by FY10 end or early FY11

Quippo Telecom, the telecom tower subsidiary of Srei Infrastructure, may look at listing by the end of FY10 or early FY11, subject to market conditions and profit levels, quoting sources.

The company may raise USD 250-500 million via an initial public offer (IPO), sources informed.

"It has a capex of Rs 9,000 crore in next two years and will set up 16,000 towers by the end of this fiscal year," sources added. The company currently has between 23,000-24,000 telecom towers.

Quippo Telecom has merged with Tata’s Wireless-TT Info-Services Limited in August and post the merger Quippo telecom has a 49% stake in the company while Tatas have a 51%.

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