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-> S Tel Set to Invest Rs. 700 Cr In 3G Mobile Services

Posted by Unknown Labels:

STel, the youngest telecom operator to have bagged 3G licenses in the recent spectrum auctions in India, today announced its plans to invest Rs. 700 crores for acquisition of 3G spectrum and roll out of services.

The company plans to raise Rs. 338 crores through a 1:1 debt to equity ratio towards license fee payment for the three circles of Bihar & Jharkhand, Odisha and Himachal Pradesh.

S Tel is the only new operator to have bid consistently and won 3G spectrum at a high success rate, leading to acquisition of licenses in all three circles of its current operations.The debt is already tied up with Indian nationalized banks via a bridge loan and the company is set to meet the timelines.



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