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Viom Networks Plans To Initiate IPO Process In January

Viom Networks, independent mobile tower company in India, is planning to initiate initial public offering or IPO proceeding from January, Vice Chairman and Managing Director Sunil Kanoria said to reports on the sidelines of an event - "World Confluence of Humanity, Power and Spirituality: - organized by SREI Foundation.

The details of IPO and the amount of money to be raised have not yet been finalized, he said.

Viom is a joint venture between Tata Teleservices with 54 percent holding and a consortium led by the Kanorias of SREI. It has over 40,000 mobile tower sites and a power tower tenancy ratio of 2.4.

Kanoria said the company's income was impacted due to pull out by several telcos and withdrawal of operations. The company, which was planning to break-even this fiscal, is now planning to break even by 2013-14.

by RTT Staff Writer

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