STel to Sell Movable Assets from All Circles before Leaving the Sector

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STel, the telecom venture of Shiva Group is all way to move out from the telecom business sector of the country, as it is going to sell out its movable telecom assets via an auction procedure.

STel was one of the new telecom operators who was granted licenses in 2008. STel was a regional player with commercial 2G services available in Orissa, Bihar and Jharkhand, Himachal Pradesh, Assam and North East circles. In 2010 it won 3G licences in 3 circles also - Orissa, Bihar and Jharkhand, Himachal Pradesh. But in February 2012 Supreme Court of India cancelled 122 licences issued in 2008 including STel's 2G licenses in 6 circles.

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STel's foreign investor BaTelco sold its stake to Skycity Foundation. Without 2G services STel could not roll out 3G services. And STel did not participate in any of the spectrum auction thereafter.

STel appointed IDBI Trusteeshop Services Ltd to conduct auction process for sale of movable assets of the company in the telecom infrastructure sites of Bharti Infratel Ltd and Viom Networks Ltd.

Last date for submission of expression of interest with EMD, prior to inspection of assets is 30th October, 2013. Last date for submission of bids and date opening of bid are 06th and 09th December, 2013 respectively.

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