SREI completes stake sale in Viom Networks

SREI Infrastructure Finance has completed the process of stake sale in Viom Networks (Viom) to American Tower Corporation (ATC). The transaction wherein ATC Asia Pacific, Singapore acquired 51% equity shareholding in Viom, was approved earlier in the month by the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister. The transaction is one of the largest foreign direct investments in the Indian telecom sector in the last few years.

The overall transaction amounting to over Rs 7600 crore, resulted in a total foreign direct investment inflow of Rs 5856 crore into the telecom infrastructure of the country , out of which SREI has received a total amount of Rs 2931 crore; which will spur economic growth, besides fostering inclusiveness and equity. SREI, along with other shareholders of Viom, had entered into a definitive agreement with ATC on October 21, 2015 for selling its stake in Viom, which owns and operates over 42000 wireless communications towers across India.

SREI Infrastructure Finance is a leading infrastructure financing conglomerate in India. The company provides leasing and hires purchase of infrastructure, construction equipment and machinery to various construction companies and SMEs engaged in civil and mechanical construction.