A clutch of private equity players are picking up equity stake in telecom tower company — GTL Infrastructure Ltd (GIL) for Rs 1,200 crore. Industry sources said that three PE players were picking up stake in GIL, which included two infrastructure funds from India and one from abroad. GIL is India’s largest standalone tower and telecom infrastructure company.
When contacted, a company spokesperson said it was “too early to comment on the who the PE players are”, while adding that the GIL board would meet on October 19 to finalise the proposal of preferential issue of shares or warrants of up to Rs 1,200 crore. GIL is slated to make an announcement with regard to the stake sale in Mumbai on Friday.
Read more in The Economic Times article.
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