Telecom infrastructure provider GTL Infrastructure has raised Rs 7265 crore through a mix of debt and equity to fund the expansion of its telecom towers business.

The company has received aggregate debt of Rs 4999 crore from international, domestic banks and financial institutions. The international lenders include Germany-based DEG and Asian Development Bank (ADB).

The company raised Rs 2,905 crore by equity, preferential warrants and Foreign Currency Convertible Bonds in November, last fiscal.

According to sources, the company aims to set up 23,700 telecom towers across India by financial year 2011. Presently, the company has 8,000 towers.

Ashu Kakkar, Technical analyst, Sky Power financial services has recommended investors to stay invested in the counter. As per his view, there is more room for the counter on the upside and the stock may give decent returns in the medium term.

The scrip of the company slipped 1 per cent to Rs 40 at the close of Friday's trading with over 3,790,000 shares changing hands on the BSE.