Tower Infrastructure Trust buys Space Teleinfra at Rs 900 cr
21 Jul 2021
2 Min Read
CW Team
Brookfield-backed Tower Infrastructure Trust acquired prime neutral host provider in India, Space Teleinfra Private Limited (STIPL), for Rs 900 crore.
The transaction financing is via a combination of units of Tower InvIT and cash issued to selling shareholders.
The company told the media that the transaction is subject to several regulatory and additional customary provisions precedent common in transactions of this nature.
Tower Infrastructure Trust has a necessary market share of India鈥檚 outdoor macro tower market. It is a SEBI designated Infrastructure Investment Trust funded by Brookfield and supported by leading global infrastructure investors.
Ankit Goel, Co-founder, and Managing Director, STIPL, told the media that the deal would plan significant growth possibilities for STIPL considering the synergies among Tower InvIT.
He further said that with the start of 5G and other data consumption trends, indoor connectivity becomes necessary as outdoor connectivity and the deal would unlock new doors for STIPL to take this opportunity ahead.
Earlier in 2019, Brookfield Partners acquired 1.3 lakh towers from Reliance Jio for approximately Rs 25,000 crore and later on, it became the sponsor of Tower Infrastructure Trust.
STIPL is a flourishing shared telecom infrastructure supplier for data and voice connectivity. The company began its operations in 2016 on giving telecom infrastructure to the mobile network. The firm has developed quickly in a short period. It has a well-spread client base over all the three key MNOs, including a pan-India presence.
Also read: Jaypee Infratech acquisition: NBCC, Suraksha to submit revised bids
Brookfield-backed Tower Infrastructure Trust acquired prime neutral host provider in India, Space Teleinfra Private Limited (STIPL), for Rs 900 crore.
The transaction financing is via a combination of units of Tower InvIT and cash issued to selling shareholders.
The company told the media that the transaction is subject to several regulatory and additional customary provisions precedent common in transactions of this nature.
Tower Infrastructure Trust has a necessary market share of India鈥檚 outdoor macro tower market. It is a SEBI designated Infrastructure Investment Trust funded by Brookfield and supported by leading global infrastructure investors.
Ankit Goel, Co-founder, and Managing Director, STIPL, told the media that the deal would plan significant growth possibilities for STIPL considering the synergies among Tower InvIT.
He further said that with the start of 5G and other data consumption trends, indoor connectivity becomes necessary as outdoor connectivity and the deal would unlock new doors for STIPL to take this opportunity ahead.
Earlier in 2019, Brookfield Partners acquired 1.3 lakh towers from Reliance Jio for approximately Rs 25,000 crore and later on, it became the sponsor of Tower Infrastructure Trust.
STIPL is a flourishing shared telecom infrastructure supplier for data and voice connectivity. The company began its operations in 2016 on giving telecom infrastructure to the mobile network. The firm has developed quickly in a short period. It has a well-spread client base over all the three key MNOs, including a pan-India presence.
Image Source
Also read: Jaypee Infratech acquisition: NBCC, Suraksha to submit revised bids
Next Story
RentenPe and Mygate Partner to Transform Rent Payments in India
Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India鈥檚 first Rent Credit Score鈩� platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe鈥檚 payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..
Next Story
Supreme Unveils New Brand Identity to Elevate Lifestyle
Supreme, a respected name in Indian real estate with a four-decade legacy, has announced a complete rebranding. The move includes the launch of a new logo and a revamped website, both reflecting the group鈥檚 refreshed vision to 鈥楨levate Lifestyle鈥�. This brand transformation represents more than a visual refresh鈥攊t marks a strategic shift in the company鈥檚 mission, visual identity and market positioning. The update will be visible across all of Supreme鈥檚 digital, social and offline communication platforms. At the core of the initiative is a renewed focus on purposeful design..
Next Story
Capri Loans Launches #TarrakiKeHaath Campaign Honouring India鈥檚 Everyday Heroes
Capri Global Capital Ltd (Capri Loans), a leading non-banking financial company, has unveiled its latest brand campaign, #TarrakiKeHaath, a powerful tribute to the everyday hands that build India 鈥� from kirana store owners and taxi drivers to dhaba workers, tailors, and carpenters. Narrated by Capri Loans鈥� long-standing brand ambassador and acclaimed actor Pankaj Tripathi, the campaign celebrates the dignity, resilience, and aspirations of self-employed individuals and small business owners who form the backbone of Bharat鈥檚 economy. Conceptualized by Rediffusion Brand Solutions, the..
