The Hindu Business Line : GTL Infrastructure's paid-up capital to be Rs 320 cr post-revamp

GTL Infrastructure Ltd (GIL) after a proposed restructuring will have paid-up capital of Rs 320 crore. The stock of GIL would be listed at the domestic exchanges after the process of transferring of business assets from GTL to GIL is over.

At present, GIL is a wholly-owned subsidiary of GTL with a paid-up capital of Rs 27 crore.

GTL has decided to make a fresh investment of Rs 106 crore in GIL and make provision for an FDI worth Rs 80 crore.

The board of GIL has approved the issue of equity capital at a price of Rs 10 per share to GTL and foreign investors under the FDI scheme. The FDI has been envisaged to represent around 26 per cent in the post-restructure shareholding of GIL, while GTL would have a stake of 41 per cent and the balance 33 per cent of the total paid-up capital would be accounted for by the shareholders of GTL, who would receive GIL stock at a ratio of 1:1.

Mr Prakash Ranjalkar, COO of GIL told Business Line that GIL would initially focus on two business areas - shared wireless infrastructure for telecom operators and BPO infrastructure.

It would roll out passive infrastructure for wireless operators throughout the country. The cell sites (both rooftop and ground floor) with facilities such as tower, shelter, generation set, air-conditioning and other passive equipment would be leased out to the operators.

"We would adopt a 2-3 tenant model, which means that one site can be shared by two to three operators," he explained.

For BPO development centres, the company has planned to deploy around 12 acres of land and three superstructures it already possesses in Mumbai and Pune.

"A total of 20,000 sq feet ready-to-use (furnished and equipped) facility would be created for rental," Mr Ranjalkar explained.

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