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Telecom tower company Viom Networks is eyeing GTL Infrastructure. Viom is 53 per cent controlled by the Tatas. Kolkata-based Kanorias, founders of Srei, hold about 27 per cent while foreign institutional investors own 20 per cent. The promoters own 58.3 per cent in GTL Infrastructure. A share swap is seen a way to avoid heavy cash payouts at this juncture.  However, the talks were at an early stage and might not lead to an eventual transaction. Last year, GTL was trying to merge with Reliance Infratel, the tower arm of Anil Ambani’s Reliance Communications. But the deal fell through.

Viom has around 38,500 towers and 95,000 tenancies. The company plans to roll out 20,000-25,000 additional towers in the next two years and is targeting a tenancy ratio of 2.5 times. GTL Infrastructure, after acquiring Aircel’s towers, had 32,650 towers and 41,700 tenants as on March 31, 2011. But it also has a debt of Rs 10,000 crore on its books. A merger will ensure scale and higher tenancies. Indus Towers, a joint venture among Bharti Airtel, Vodafone Essar and Idea Cellular, is the market leader with about 110,000 towers.

GTL and GTL Infrastructure have roped in SBI Capital Markets for advice on business and financial obligations in an effort to dispel investor concerns after the recent fall in the stocks. Since June 17, GTL and GTL Infrastructure stocks have seen panic selling, resulting in a fall of 61 per cent and a loss of Rs 3,743 crore in their combined market capitalisation. Last month, Viom opted out of a race to acquire the tower arm of Anil Ambani-promoted Reliance Communications following differences over valuation. At current market price, GTL’s valuation is way below Viom’s self-valuation, and a merger may bring down Viom’s value significantly. The other challenge will be who will control the combined operations. In Viom, already there are the Tatas, the Kanorias and private equity investors such as SBI Macquarie, IDFC and Oman Investment Fund. crackcrack

GTL Infrastructure Share Price

1.26 0.02 (1.61%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Vindhya Telelinks 1376.60
HFCL 95.45
Pace Digitek 177.15
Bondada Engineering 359.85
GTL Infrastructure 1.26
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