Indian telecom services provider Tulip Telecom is in talks with both local and global private equity firms to raise as much as US$75m.
This is according to chairman and managing director HS Bedi, who reportedly made the comments on the sidelines of a…
Indian telecom services provider Tulip Telecom is in talks with both local and global private equity firms to raise as much as US$75m.
This is according to chairman and managing director HS Bedi, who reportedly made the comments on the sidelines of a World Economic Forum event in Mumbai.
Tulip Telecom was not immediately available for comment.
The money will reportedly be used to fund expansion plans.
Over the last few months, Tulip has been looking to sell a 30% stake in its data centre business, Tulip Data Center Services, for US$60m.
Back in June, CEO Sanjay Jain told local newspapers that the company would use the funds to expand its data storage operations.
