Viom plans to add 20-25,000 additional towers

Viom Networks Limited announced that a consortium led by Macquarie SBI Infrastructure Fund (MSIF) has acquired an interest in the company.

Viom Networks Limited (erstwhile Quippo-WTTIL),announced that a consortium led by Macquarie SBI Infrastructure Fund (MSIF) has acquired an interest in the company for a total consideration of INR 14.2 billion ($US 304 million) from Quippo Telecom Infrastructure Ltd. (QTIL).

MSIF is an India focused infrastructure fund that is managed by a joint venture between Macquarie Capital (Macquarie) and the State Bank of India (SBI).

Viom Networks is one of Indias leading independent telecom infrastructure companies with over 37,000 towers and with over 80,000 tenants.

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Quippo Telecom,promoted by the Kanoria family,and Tata Teleservices had entered into an agreement to merge their passive infrastructure businesses to create Viom Networks Limited. The company plans to add around 20-25,000 towers in the next two years while targeting a tenancy ratio of over 2.5x.

Sunil Kanoria,Vice Chairman,SREI said,SREI and other QTIL shareholders like IDFC,GIC-Singapore and Oman Investment Fund are delighted to have Macquarie and SBI as key investors in Viom.

The acquisition of interest in Viom Networks Limited is subject to customary regulatory requirements.