Viom Networks has announced that a consortium led by Macquarie SBI Infrastructure Fund (MSIF) has acquired an interest in the company for a total consideration of Rs.14.2 billion (US$304 million) from Quippo Telecom Infrastructure (QTIL). MSIF is an India- focussed infrastructure fund that is managed by a joint venture between Macquarie Capital (Macquarie) and the State Bank of India (SBI).
Quippo Telecom and Tata Teleservices had entered into an agreement to merge their passive infrastructure businesses to create Viom Networks Limited. The company plans to add around 20-25,000 towers in the next two years while targeting a tenancy ratio of over 2.5x.
Sunil Kanoria, Vice-Chairman, SREI, said, "SREI and other QTIL shareholders like IDFC, GIC-Singapore and Oman Investment Fund are delighted to have Macquarie and SBI as key investors in Viom."
"Several other investment opportunities are being evaluated and we expect this acquisition to be one of a number of investments that MSIF will complete in the near future," said Varun Bajpai, CEO, SBI Macquarie Infrastructure Management.
The acquisition interest in Viom Networks Limited is subject to customary regulatory requirements.
