Macquaire SBI buys stake in Viom Networks

MSIFViom Networks has seen 11 per cent of its stake being bought over by Macquarie SBI Infrastructure Fund (MSIF). The total amount that is being for this is Rs 1,400 crore.

Chairman of one of the main promoting companies of Viom gave this information on Wednesday. Talking to media, Sunil Kanoria, SREI Infrastructure vice-chairman said that 11 per cent sale and the subsequent money generated by it will be used for repaying loan that has been created by Viom.

This company is into the business of telecom infrastructure and is one of the leading players in it. It has 37,000 towers with it and has as many as 80,000 tenants. It was formed with the joint venture between Macquarie Capital and State Bank of India (SBI).

Viom is formed with the merger of Quippo Telecom Infrastructure Ltd (QTIL) tied up with Tata Teleservices (TTSL). It was in 2009 that the two parties came together and the result was the formation of Viom.

In it Tata Teleservices holds 54 per cent stake while the rest 46 per cent is owned by SREI Infrastructure Finance, which is promoter of Quippo.