Viom Networks plans African expansion; plans to raise Rs.1,500 crore

Kolkata, Dec 29 (IANS) Telecommunications infrastructure major Viom Networks, an over Rs.20,000 crore company, is considering expanding its overseas footprint by entering Africa to provide consultancy and managed services, a top official said.

“We are evaluating Nigeria and Kenya in Africa. We would like to look internationally, said company vice chairman and managing director Sunil Kanoria.
The telecom infrastructure company is keen to focus on its overseas business but is not considering overseas investment.
“We are continuing to explore opportunities in Myanmar and presently advising companies there. However, we are not yet investing,” he added.
Besides, Kanoria is considering raising atleast Rs. 1,500 crore either by opting for IPO or bringing in investors for the domestic market.
“We are open to both acquisitions as well as organic growth. But we won’t do anything which will do acquisition at phenomenal value and then destroys its value,” he said.
However, it is still undecided which route will Srei Infrastructure Finance Ltd (SIFL) take regarding its stake in Vyom Networks.
“At this juncture it is very difficult to say. It all depends on the size, the volume and the value and based on that we’ll take the call,” Kanoria said when asked over the future of SIFL’s stake in either opting for IPO or private investment.
The company now has a network of 42,000 towers.
Kanoria said the towers will continue to be the company’s main source of revenue followed by managed services and consultancy.