GTL Infrastructure on Monday said its board has approved fund raising through one or combination of different ways like placing shares with institutions, issuing foreign currency convertible bonds (FCCBs) and a foreign issue.
The board has also approved the merger of its unit formed to purchase 17,500 telecom towers from Aircel with itself, the company said.
GTL Infrastructure’s net loss narrowed to Rs 16.17 crore in the quarter ended September 30 from Rs 37.87 crore in the year-ago period. Net income for the quarter increased 43.78 per cent to Rs 116.890 crore.