Telecom infrastructure service provider, Viom Networks is planning to list the company overseas, say news reports. This comes in the wake of government allowing unlisted Indian companies to directly list in overseas markets without prior or simultaneous listing in India.
Initially, Viom Networks had plans of listing itself on Indian bourses, however owing to a weak micro and macro economic environment, the company has decided to list itself in an international market.
The company plans to engage a few banks for identifying listing opportunities overseas. In addition, the company is also exploring raising funds through the PE route. It will provide its existing investors an exit route post the planned listing.
Currently, Tata Teleservices Limited holds 54 per cent stake in Viom Networks, while the remaining 46 per cent stake is owned by Kolkata-based Srei Group along with companies such as IDFC, GIC Singapore, SBI Macquarie and Oman Investment Fund.
Viom Networks has 40,500 telecom towers with a tenancy ratio of 2.35 per cent. The company reported a net profit of Rs 0.78 billion in 2012-13 as against a net loss of Rs 3.27 billion in 2011-12.
