Sistema Shyam Teleservices Limited to go for IPO shortly

HYDERABAD: Sistema Shyam Teleservices Limited (SSTL), provider of high-speed mobile broadband services, is expected to raise funds through an IPO this year in order to expand its services in the country, said Atul Joshi, Chief Sales Officer, SSTL here today.

Launching the high-speed mobile broadband service -- MBlaze -- in Andhra Pradesh, Joshi said SSTL has so far invested over USD 2.2 Bn in India, while it is set to invest Rs 30 crore for the roll-out of Data service across Andhra Pradesh.

Joshi said SSTL, in a joint venture between Sistema of Russia and Shyam Group India, offers its telecom services under the MTS brand.

To a question, he denied having received any notice from any authority or TRAI cancelling 2G Spectrum Licence granted to SSTL