Quippo Telecom is planning to raise Rs 7.81 billion through a mix of rights and equity issue. As part of the equity, the Oman Investment Fund has decided to pick up 18.74 per cent in Quippo Telecom for Rs 4.8 billion. The balance, amounting to Rs 3.01 billion, will be brought in by existing Quippo investors including IDFC Private Equity, USbased investment bank DB Zwirn, Singapore-based GIC-managed Indivest and Quippo Infrastructure. IDFC Private Equity and Indivest will reportedly pick up 12.19 per cent stake each in the company. The funds raised through this issue will be utilised for the construction of 6,000 towers next year. The company intends to increase its tower capacity to 21,000 by 2011.
