"We have kept all options open to raise funds. We may use the Indian capital market to raise funds," Red Snapper CEO Braham Singh said.
YouSnapper plans to roll out wireless broadband services in 10 cities in the next two years at a cost of Rs 80 crore.
You Telecom is a part of Citigroup company and the Malaysian government holds 40 per cent in RedSnapper. You Telecom is an Internet service provider present in 12 cities in the country.
RedSnapper is a wireless broadband service provider in Malaysia. It has connected many parts of western Malaysia with wireless broadband.
"Now, we want to replicate what we did in Malaysia in India," Singh said. YouSnapper has successfully completed a pilot project on wireless broadband in three parts of Mumbai. Now it wants to replicate it in 10 cities where You Telecom has presence.
"We would be rolling out broadband services on the back of You Telecom's infrastructure," he said.