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Tulip Telecom’s promoter raises stake in the company

09 Jul 2011 Evaluate

Tulip Telecom, a leading enterprise data connectivity service provider of the country, has seen promoter increasing its stake in the company. Cedar Infonet, the promoter of the company have bought 4,31,936 equity shares constituting 0.298% of the issued share capital of the company from the open market.

Pursuant to the purchase of above shares the holding of Cedar infonet been increased to 4,87,74,762 comprising 33.64% equity shares of Rs 2each.

Recently, Tulip Telecom had announced that it has chosen IBM, a leading technology infrastructure service provider, as its strategic partner and SCHNABEL, leader in Data Center Consulting, as a peer review consultant to help to build India’s largest and the world’s third largest data center in Bengalaru. The new data center which will be built with an approximate investment of Rs 900 crore spread over 3 years is for meeting rising customer requirement from across the world.

Tulip Telecom is a data telecom service and IT solutions provider. The company offers an innovative IP based infrastructural solutions to its customers.

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