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Sujana Towers seems to have revived stake-sale plans. The power- and telecom-tower firm had initial stake-sale talks with larger local peer GTL Infrastructure early last year. It would need to raise around 500 crore for which it is currently working on all options. Sujana would also evaluate merger proposals from strategic investors though the management is not in favour of an outright sale. It may look for 10% dilution in stake.

Sujana clocked sales of 1,006 crore in the year ended September 2010. The company develops passive infrastructure for mobile-communication towers and related services including operations and maintenance for tower operators. GTL Infrastructure will look at all tower assets at any given point in time for acquisition opportunities, said a source without giving any specific comments on Sujana.


Sujana has engaged Crisil to advise the firm to chalk out a business-expansion plan. It would look out for acquisition opportunities in south-east Asian markets to offer tower-management solutions to overseas clients. Sujana in 2008 had picked up 51% stake in Mauritius-based Telesuprecon that undertakes telecom-infrastructure contracts in select African nations. The company would also look to set up a new unit in Gujarat to meet local demand.
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