Tower InvIT to acquire Space Telinfra for ₹900 crore
The Hindu
The shareholders of Space Teleinfra Pvt. Ltd. (STIPL), a shared telecom infrastructure provider for voice and data connectivity, have executed definitive agreements with Tower InvIT, sponsored by Broo
The shareholders of Space Teleinfra Pvt. Ltd. (STIPL), a shared telecom infrastructure provider for voice and data connectivity, have executed definitive agreements with Tower InvIT, sponsored by Brookfield, to sell their holdings for an equity consideration of ₹900 crore, and an additional, substantial milestone-based consideration. The shareholders will receive the consideration by way of a combination of cash and units in Tower InvIT through a preferential allotment of units. “Considering the synergies with Tower InvIT, this transaction will outline significant growth opportunities for STIPL. With the onset of 5G and data consumption trends, seamless indoor connectivity becomes as essential as outdoor connectivity, and this transaction will open new horizons for STIPL to lead this opportunity further,” said Ankit Goel, Co-founder and MD, STIPL.
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