Indus Towers' IPO at a later stage, says Idea's Aga
Indus Towers is expected to come out with an initial public offer (IPO) "at a later stage", a top Idea Cellular official said.
By PTI |
MUMBAI: Indus Towers is expected to come out with an initial public offer (IPO) "at a later stage", a top Idea Cellular official said.
Idea Cellular holds a 16 per cent stake in Indus Towers.
"After the demerging of tower business, Indus Towers is expected to come out with an IPO at a later stage," Idea Cellular's Managing Director, Sanjeev Aga, told reporters on the sidelines of a press meet here.
India's top mobile operators Bharti Airtel, Vodafone Essar and Idea Cellular in late 2007 had decided to pool their resources and hived off their towers into an independent firm, Indus Towers, with over one lakh towers.
Post the joint venture, Vodafone and Bharti held 42 per cent stake each while Idea held 16 per cent.
Idea Cellular holds a 16 per cent stake in Indus Towers.
"After the demerging of tower business, Indus Towers is expected to come out with an IPO at a later stage," Idea Cellular's Managing Director, Sanjeev Aga, told reporters on the sidelines of a press meet here.
India's top mobile operators Bharti Airtel, Vodafone Essar and Idea Cellular in late 2007 had decided to pool their resources and hived off their towers into an independent firm, Indus Towers, with over one lakh towers.
Post the joint venture, Vodafone and Bharti held 42 per cent stake each while Idea held 16 per cent.
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