Quippo-Wireless TT Info Services has raised around US$60m via a preferential share allotment to IDFC, according to local reports.
The firm will use the fresh equity injection to roll out approximately 35,000 towers over the next two years and to make…
Quippo-Wireless TT Info Services has raised around US$60m via a preferential share allotment to IDFC, according to local reports.
The firm will use the fresh equity injection to roll out approximately 35,000 towers over the next two years and to make acquisitions.
The deal was carried out via IDFC investment vehicle IDFC Project Finance.
Quippo is also planning to raise new debt this year.
Tata-Quippo is the offspring of a merger between the tower arm of the Tata Group and Quippo Telecom Infrastructure.
Tata holds 54% in Tata-Quippo while Quippo Telecom, GIC Singapore, IDFC Private Equity and Oman Investment Fund jointly hold the remaining 46%.