GTL Infrastructure announces 1:1 rights issue

New Delhi, Jan 2 (UNI) GTL Infrastructure Ltd, a player in shared user passive telecom infrastructure, today announced a 1:1 rights issue.

The company's board approved the issue at Rs 10 per share and constituted a Committee of Directors for finalising other terms and conditions of the issue, appointment of intermediaries and other related matters.

It is in midst of rolling out a pan-India passive telecom network of 6,700 towers with a capital investment of Rs 2,030 crore in the first phases.

''In order to address the growth in business the Board of Directors considered various options for augmenting financial resources,'' an official statement said.

The board has also decided to convene an Extra Ordinary General Meeting of the shareholders for increasing the authorised share capital of the company and issue of shares.

UNI