The board of Sistema Shyam TeleServices has approved plans for an IPO on the Bombay bourse.
President and CEO of Shyam Vsevolod Rozanov is cited in local media as saying that the process is well underway, although pricing and percentage are still…
The board of Sistema Shyam TeleServices has approved plans for an IPO on the Bombay bourse.
President and CEO of Shyam Vsevolod Rozanov is cited in local media as saying that the process is well underway, although pricing and percentage are still undecided. In addition, Rozanov said that a listing will be dependent on market conditions and that the firm requires three-quarters of stability before listing.
Shyam is 74% owned by Russian conglomerate Sistema. The Russian government is, however, in the process of acquiring a 20% stake from Sistema for around US$680m as part of a debt pact with the Indian State.
