Entered the telecom industry in 1998.
- Main business is providing telephonic services and
cellular services.
- Serves the leading states of the country, Maharashtra and
Goa under the name Maharashtra Telecom Circle.
- Already has over 22,000 lines as its clients.
- Promoted by very strong corporates Hughes Electronics
Corporation, USA, ALLTEL Corp USA, Ispat Industries and their affiliates.
- Other companies promoted by the promoters: Hughes Escorts
Comm Ltd, Hughes Software Ltd, ALLTEL Information India Ltd and others are all profit
making organizations.
- Total Income has increased from Rs.448.91 lakhs for the
three month period ended March 1998 to Rs.6701.04 lakhs in 1999. Net loss for the same
period has increased from Rs.6,316.26 lakhs to Rs.26,936.34 lakhs.
- Plans a project for expansion of its infrastructure,
construction of fibre optic cable network and web based application services with a total
expenditure of Rs.3,658 crore.
- Issue proceeds would be used for the project and for the
liquidity of the ESOPS given to the employees
- Basic Telephony Services Project for the states of
Maharashtra and Goa is appraised by ICICI Ltd., which has extended a loan of Rs. 350
crores.
- NRIs can apply on non-repatriable basis.
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