Tata Teleservices Limited (TTSL) is reportedly in talks with a group of investors to sell nearly 10 per cent stake which could fetch the promoters around $350 million (around Rs 15.75 bil lion).

Tata Teleservices Limited (TTSL) is reportedly in talks with a group of investors to sell nearly 10 per cent stake which could fetch the promoters around $350 million (around Rs 15.75 billion). At this price, the valuation of the company would be around Rs 157.5 billion. The Singapore government-owned private equity fund Temasek has reportedly shown interest in acquiring the stake and preliminary talks are said to be over already. TTSL is an unlisted company promoted by various Tata group companies, including Tata Sons and Videsh Sanchar Nigam Limited (VSNL). The promoters are believed to not be keen to sell their 33 per cent stake to any one player as this could lead to differences in decision-making and expansion plans.

Valuation is the other reason for the deal. In a separate development, the Tatas have announced that they plan to pump in an investment of about Rs 130 billion over the next three-four years to expand their telecom business in India.