The Hindu Business Line : Corporate developments

Coimbatore, Nov. 20 BSEL Infrastructure Realty Ltd’s board of directors has constituted a committee comprising Mr Dharmendra Raichura, Managing Director, Mr Abbas Lakdawalla and Mr Hitesh Vora, Non-executive and Independent Director.The committee will decide on further issue of securities including finalisation of issue size, pricing of the offer and matters related to the issue.

GTL Infrastructure Ltd (GTL Infra) has signed a Memorandum of Understanding (MoU) with IDFC Project Equity Company Ltd to form a Special Purpose Vehicle (SPV) to capitalise on the telecom tower infrastructure acquisition opportunities. The MoU will allow GTL Infra to acquire and make strategic investments in telecom tower infrastructure companies being hived off by telecom operators and other independent tower companies. This MoU is an extension of the ongoing relationship between the parent IDFC and GTL Infra. IDFC owns nearly five per cent stake in GTL Infra and is also participating in the Warrants Issue of the company. As part of its organic growth plans GTL Infra is in the process of rolling out a pan-India network of over 25,000 towers with an estimated investment of Rs 8,000 crore. The company is already servicing five national-level and one regional-level telecom operators, and has entered into long-term contracts of 10-15 years.

State Bank of India (SBI) has entered into an arrangement with SBICAP Securities Ltd (SSL) for providing e-trading services to the bank’s customers.