The US-based WiMax technology provider, Soma Networks Inc plans to enter in capital market. Despite being an American company, Soma Networks wants to get listed on Indian stock exchanges.

"Our company is based in the US and we are providing services in around 12 countries. But India is a huge market with enormous potential for us. So we are planning to enter in Indian capital market and may also go for listing in US-based stock exchanges," founder and CEO of Soma Networks, Yatish Pathak told DNA Money.

Pathak further said that the company would not come up with an IPO in near future. "Currently, being a private company, we want to focus on providing our services in India and other countries. Once the dust in the equity market settles dow, we will launch the IPO, may be in two years time," he said.

Talking about the investment, Pathak said that company has so far pumped in more than $200 million in India to launch WiMax service. In coming years, the total investment of the company is likely to be more than $500 million. "We will invest more money for expansion of our network, as and when required. To fund the expansion, we have arrangement with various investors from different countries," said Pathak.

...to launch 3G in six months

After launch of WiMax service in Gujarat, state-owned telecom operator, Bharat Sanchar Nigam Limited (BSNL) is now looking forward to launch 3G services in the state. "We will launch 3G service in Gujarat in next six months with an investment of around Rs300 crore," said CGM of BSNL, Satya Pal. The company has been allocated two spectrums of 14 MHz each. "We have already issued orders for the equipments for the service, which are expected to be delivered soon," he added. BSNL has already launched 3G services in Tamil Nadu.

Himansh Dhomse/ DNA-Daily News & Analysis Source: 3D Syndication