BackSistema Shyam may launch IPO this year
Sistema Shyam may launch IPO this year
Premium
Hyderabad: High-speed mobile broadband services provider Sistema Shyam Teleservices Ltd (SSTL) on Wednesday said they may come out with an initial publisc offer (IPO) this year to raise funds in order to expand its services in the country.
SSTL has so far invested over $2.2 billion (around Rs9,900 crore) in India, and it is set to invest Rs30 crore for the roll-out of data service across Andhra Pradesh, SSTL chief sales officer Atul Joshi said, after launching the high-speed mobile broadband service -- MBlaze -- in Andhra Pradesh.
SSTL, a joint venture between Sistema of Russia and Shyam Group India, offers its telecom services under the MTS brand, he said.
To a question, he denied having received any notice from any authority or Trai (Telecom Regulatory Authority of India) cancelling 2G spectrum licence granted to it.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
