Loop Mobile is examining the option of raising funds through the private equity route for renewing its licence in the Mumbai circle. The operator has been offering telecom services in the Mumbai circle for the past 19 years and its licences is going to come up for renewal in November 2014.
Currently, Loop Telecom holds 8 MHz of spectrum in the 900 MHz band, and 2 MHz of spectrum in the 1800 MHz band. The operator has appointed a merchant banker who would support the operators? fund raising exercise. The quantum of the stake to be offloaded by the operator would depend on the valuation of the company. However, at the same time, there are industry reports which suggest that the majority stakeholders in Loop Mobile ? the Dubai-based I.P. Khaitan and family are in talks with Bharti Airtel for selling their telecom business.
