Sistema Shyam to consider listing next year

Press Trust of India / New Delhi October 08, 2009, 18:04 IST



Telecom services provider Sistema Shyam Tele Services (SSTL) today said it will consider listing on the stock exchanges next year.

"We will review this option (listing) next year... I think definitely it will depend on market conditions first and foremost because we are not facing a lack of funding, so we will look into it but there are no (fixed) dates," SSTL President and CEO Vsevolod Rozanov told reporters here.

The company, a joint venture between Russian telecom major Sistema and Shyam Group offering services in seven circles under the brand MTS, today launched its operations in the National Capital Region.

"This year we are looking at four more circles and next calender year end should have a pan-Indian presence," he said.

The company has earmarked about Rs 330-370 crore per circle to be invested over the next three-four years.

The company has about 20 lakh subscribers and is looking at adding another 10 lakh users by this year end.