IFCI to invest Rs 16 cr in Luminous Teleinfra

New Delhi, Oct 20 (UNI) IFCI Ltd, a development financial institution, today said it will invest Rs 16 crore for acquiring a small stake in Luminous Teleinfra Ltd, a passive telecommunications infrastructure venture.

Luminous, which will set up manufacturing units in Himachal Pradesh to manufacture deep-cycle telecom batteries, power management units, power conversion devices and innovative solutions for reduction in operating expenditures and carbon emissions for telecom operators, will also provide turnkey site preparation services for telecom cell sites all over India.

Luminous Teleinfra expects to complete the project by second quarter of next fiscal, a statement said here.

IFCI will invest the money through IFCI Venture Capital Funds Ltd.

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