GTL Infrastructure lists in NSE and BSE

GTL Infrastructure Ltd (GIL) has announced that the Company is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 09, 2006.

Speaking on the listing occasion, Mr. Manoj Tirodkar, Chairman, of the Company said, "We decided to list GIL as a separate Company with a focus of providing shared user infrastructure services and thus unlock the value for our shareholders."

As part of the demerger process, shareholders of GTL received one share of the Company for every one share of GTL held. This was in consideration for the demerger of the Company's infrastructure unit with the Company, as per the scheme approved by the FCCB holders, creditors, shareholders and the honorable High Court of Bombay.

The Company aims at setting up 6,700 towers over a period of the next two to three years. This will require capital investment of approximately Rs 2030 crores. The finances for the project are already in place. These sites will be shared by multiple operators and help them to bring down their Capex. Shared User Telecom Infrastructure will help the operators to concentrate entirely on customer-centric activities and outsource the non-core operations like infrastructure management to be handled more effectively by third party providers like the Company ultimately benefiting the end users of telecom services (cellular subscribers).

Mr. Prakash Ranjalkar COO of the Company added "If the infrastructure providers can offer competitive rates to the operators, infrastructure sharing is the one of the ways out".

Source : Equity Bulls

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