The Tatas is all set to infuse another Rs 2,000 crore in their loss-making wireless telephony firm, Tata Teleservices (Maharashtra). The investment in Tata Teleservices will be in addition to the Rs 2,480 crore already invested by the Tatas in January this year, which was used to pay off debt.
The fund infusion by promoters was important for the company to repay its debt, which rose to Rs 24,700 crore by December 2013. The January fund infusion was made by the Tatas as compulsorily convertible preference shares, which helped the company meet its interest commitments.
Tata Teleservices Maharashtra (TTML) is a part of the Tata Group. This telecom services company has its presence all over Maharashtra and Goa.
