GTL: Quotes, News

BSE 6.140.08 (-1.30%)

NSE 6.110.05 (-0.82%)

GTL Infrastructure: Quotes, News

BSE 1.020 (0.00%)

NSE 1.020 (0.00%)

GTL is the company which provides infrastructure solutions to telecom companies in India. The company has ongoing projects across many countries and has worked with over 70 cellular operators.

The company has been mired by many bad news, speculation in the month of July as media speculated that the promoters of the company have dumped their shares on the open market. As per the filings it was easy to establish that the promoters had pledged more than 50% shares in the company -- GTL and GTL Infra.

Though promoters kept claiming that there was no problem with the company and the business is good as usual the investors have maintained a contrary view.

If the news of share pledges being used by the bankers to convert it to shares is true, then the promoters have become a minority stake holder in their own company.

Combining this with the media reports that Viom Networks had offered to buy GTL Infrastructure for Rs 7500 crore would mean a lot of activity in the company. This offer was later confirmed by the company as it filed "Viom has not entered into any formal discussion with the company and hence the question of Rs7,500 crore or Rs10,500 crore being the offer value does not arise."

There is a strong possibility that in the next few weeks, ICICI Bank may force the promoter to accept the offer from Viom Network.

This will open many investing opportunities in both the companies -- GTL and GTL Infrastructures. If you are risk averse then sell your shares in the company and stay away till a clear picture evolves.

OneIndia Money