Sistema Shyam TeleServices has inked a Rs5bn (US$111m) two-year loan from state-run Central Bank of India.
Russian parent JSFC Sistema, which owns 73.71% of the firm, will guarantee the loan.
The cash will be used for operational expansion.
India’s Shyam…
Sistema Shyam TeleServices has inked a Rs5bn (US$111m) two-year loan from state-run Central Bank of India.
Russian parent JSFC Sistema, which owns 73.71% of the firm, will guarantee the loan.
The cash will be used for operational expansion.
India’s Shyam Group holds 23.79% in the firm, with the remaining 2.5% held by minority shareholders.
Shyam operates in 11 of India’s 22 telecom circles and has 4 million users.