Tulip Telecom may divest upto 25% stake in it's data centre - Tulip Data City. The funds are likely to be used to repay debt.
Col H.S. Bedi, MD, Tulip Telecom said that the company is open to either a financial or strategic investor to pick up the stake in the centre which is a wholly-owned subsidiary of the company.
The company is also looking at options to repay $97Mn of FCCB which is due in August this year. It raised $150Mn through FCCB for funding the expansion of the company and has so far bought back $53Mn.
Last month, Tulip Telecom raised R250Cr mezzanine funding to cover the costs for the Bangalore datacenter. Tulip also invested R230Cr from its own funds in the data centre.
Last year, Tulip Telecom acquired Data Center facility in Bangalore by acquiring 100% stake in SADA IT Parks Private Limited for R230Cr and which is owned and operated through Tulip Data Center Pvt Ltd.
Spread across an area of 9 lac sq. ft the Tier 4 Data Center is set up in Bangalore with a total investment of R900Cr spread over a period of 3 years.
Tulip Data City currently has orders worth R600Cr from IBM, NTT and HP that on annual basis will give revenue of R120Cr.
Tulip Telecom is an enterprise communications service provider and provides leased line and corporate internet connectivity to industries such as banking, IT and BPO.
It has a data network over 2000 locations in India and has over 3539 employees and more than 2400 customers across India.
This is Tulip's 5th data center along with already operating two in Mumbai, and one each in Delhi and Bangalore and plans to acquire more data centres.
....more info
Col H.S. Bedi, MD, Tulip Telecom said that the company is open to either a financial or strategic investor to pick up the stake in the centre which is a wholly-owned subsidiary of the company.
The company is also looking at options to repay $97Mn of FCCB which is due in August this year. It raised $150Mn through FCCB for funding the expansion of the company and has so far bought back $53Mn.
Last month, Tulip Telecom raised R250Cr mezzanine funding to cover the costs for the Bangalore datacenter. Tulip also invested R230Cr from its own funds in the data centre.
Last year, Tulip Telecom acquired Data Center facility in Bangalore by acquiring 100% stake in SADA IT Parks Private Limited for R230Cr and which is owned and operated through Tulip Data Center Pvt Ltd.
Spread across an area of 9 lac sq. ft the Tier 4 Data Center is set up in Bangalore with a total investment of R900Cr spread over a period of 3 years.
Tulip Data City currently has orders worth R600Cr from IBM, NTT and HP that on annual basis will give revenue of R120Cr.
Tulip Telecom is an enterprise communications service provider and provides leased line and corporate internet connectivity to industries such as banking, IT and BPO.
It has a data network over 2000 locations in India and has over 3539 employees and more than 2400 customers across India.
This is Tulip's 5th data center along with already operating two in Mumbai, and one each in Delhi and Bangalore and plans to acquire more data centres.
....more info