Anil Ambani-led RCom incorporates new tower company Towercom Infrastructure

By November 18th, 2016 AT 6:30 AM

Reliance Communications (RCom) on Thursday said that it has incorporated a new subsidiary, called Towercom Infrastructure Private Limited (TIPL).


“We would like to inform that the Company has incorporated a new subsidiary named “Towercom Infrastructure Private Limited” on November 17, 2016, having registered office in Mumbai,” the company said in a statement to stock exchanges.

The company said that TIPL will be an Infrastructure company, which is yet to commence its business operations. It added that the new subsidiary has been formed with a subscribed and paid up capital of Rs 1,00,000.

The latest development follows RCom’s divestment of 51% stake in Reliance Infratel for Rs11,000 crore to Canada’s Brookfield Infrastructure Group. The Anil Ambani-led telco had then said that its tower unit Reliance Infratel will transfer its assets and related infrastructure into a special purpose vehicle (SPV), which will be majority held by Brookfield, while the Indian company holding 49%.

Reliance Infratel is 96% owned by Reliance Communications, while the 4% is held by minority and institutional investors such as George Soros’ Quantum (M), NSR Partners, Galleon, HSBC Daisy Investment (Mauritius), Drawbridge Towers, Investment Partners B (Mauritius) — which invested $287 million in 2007 — will be a part of balance 51% to be held jointly with Brookfield, according to reports.

Brookfield, which is the world’s second-biggest manager of alternative assets such as real estate and private equity, is currently looking to acquire as much as 40% in Bharti Infratel –India’s second-largest telecom tower company, according to an Economic Times report.

Passionately following the Indian #Telecom Industry for over a decade from Business, Consumer and a Technical perspective. My primary focus area is Consumer & Digital Experience.

Inline Feedbacks
View all comments

Recent Posts

Airtel, Jio and Vodafone Idea Rs 399 Postpaid Plan Compared

Postpaid plans have gained popularity since the time competition in the domain has increased. Reliance Jio introduced its postpaid plans...

Minimum Broadband Internet Speed Required for Streaming Videos Online

Fiber broadband technology has changed the way users consume content online. Downloading and uploading any large file has become easier...

Bharti Airtel Broadband Plans: 3.3TB Data per Month, 1 Gbps Speeds and Free OTT Subscriptions

Bharti Airtel is currently the second-largest operator in both the telecom and broadband markets. While Reliance Jio is currently leading...