Suyog Telematics, a telecom infrastructure provider has filed DRHP on BSE SME to tap the public money to the tune of R4.26 Cr by issuing 17.04 lac shares at R25 each. The fund collected would be utilized for installation of 10 new roof top poles; installation of 100 new ground based poles; upgradation and replacement of existing towers and poles.
Aryaman Financial Services is the lead manager to the issue.
Suyog Telematics incorporated in 1995, is a Mumbai based passive telecommunication infrastructure provider in India, engaged primarily in the business of installing and commissioning of Poles, Towers and Optical Fibre Cable Systems in India.
Passive infrastructure” refers to the telecommunication towers for wireless telecommunication service.
It builds, owns and operates telecommunication Poles, Towers (particularly Roof-toptowers), OFC systems and related assets and also provides these passive infrastructure assets on a shared basis to wireless and other communications service providers. The customers use the space on its telecommunication towers to install active communication-related equipment to operate their wireless communications networks.
It also offer services to telecom operators in installing telecom infrastructure on job work basis.
The company has executed contracts with Airtel, Tata Telematics Ltd, Vodafone Essar, Idea etc.
The SME clocked a PAT of R1 Cr on a revenue of R8.92 Cr in fiscal 2013.
Other deals in this space;
- @BhartiAirtel was in race to acquire Loop Mobile.
- Prabhat Telecom (India) Limited was planning an IPO through the SME platform of BSE to raise R25.25 Cr by issuing 31,56,800 equity shares of the company to public at R80 each.
- @Idea_Cellular_L was planning to sell its towers to Malysia based telecom company, Axiata which holds second largest stake in the company.