ATC India has reportedly emerged as the highest bidder for acquisition of a stake in Viom Networks. The company has placed a bid of Rs 190 billion in the last bidding round. The other companies involved in the bid include US-based private equity firms Carlyle and Providence.
It has been reported that there is a difference in the valuation of the stake by ATC and Viom Networks. ATC?s offer of Rs 190 billion includes the debt of Rs 65 billion whereas the promoters of Viom Networks are seeking a payment of Rs 200 billion, excluding the debt, from the stake sale. Further, while the promoters value tower sites at Rs 5 million per site, ATC is willing to offer only Rs 3 million.
At present, Tata Group and SREI Group hold a 54 per cent and 18 per cent stake in Viom Networks respectively. The remaining stake is held by private equity firms Macquarie SBI Infrastructure, GIC Investments, IDFC Private Equity and Funderburk Mauritius (Oman Investment Fund).
