GTL Infra has pulled out its USD 300 million capital raising plan and that led to heavy unwinding of GTL and GTL Infra shares
GTL Infra has not even gone on the roadshows. The plan was pertaining to raising the capital and it was subject to earlier market conditions which were good. Post 2G scam, issues in India concerning telecom companies have been generally bad.
As a result, raising funds for any telecom companies including debt or equity has been extremely difficult. So, we didn’t really pullout the issue. In fact, we didn’t even go on the roadshows. Whether or not that has any linkage I really have not idea. Told by Manoj Tirodkar, chairman and managing director of GTL
GTL Infra has not even gone on the roadshows. The plan was pertaining to raising the capital and it was subject to earlier market conditions which were good. Post 2G scam, issues in India concerning telecom companies have been generally bad.
As a result, raising funds for any telecom companies including debt or equity has been extremely difficult. So, we didn’t really pullout the issue. In fact, we didn’t even go on the roadshows. Whether or not that has any linkage I really have not idea. Told by Manoj Tirodkar, chairman and managing director of GTL
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