NSR and TVS Interconnect plan to sell their stakes in Ascend Telecom

Private equity fund New Silk Route (NSR) and TVS Interconnect Systems plan to sell their stakes in Ascend Telecom. NSR owns 73 per cent stake in the company while the remaining stake is held by the TVS Group company, TVS Interconnect.

Established in 2002, Secunderabad-based Ascend Telecom Infrastructure (formerly Aster Infrastructure) currently provides passive telecom infrastructure on a shared, multi-tenancy basis to operators. The company has a portfolio of 4,500 towers and is valued at about Rs 24 billion.