IFCI to sell Koshika Tele towers to recover 2.33-bln-rupee loan
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K.Karthik Raja
Jun 10, 2008, 3:22:23 AM6/10/08
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IFCI to sell Koshika Tele towers to recover 2.33-bln-rupee loan
Tuesday, Jun 10
IFCI Ltd. has invited bids to sell telecom towers belonging to
Koshika Telecom, a defunct mobile service provider belonging to Vinay
Rai's Usha Group.
IFCI plans to recover 2.33 bln rupees that it had lent to the
company, according to a notice posted on IFCI's Web site.
Besides telecom towers, the auction will also include land and
building in the states of Uttar Pradesh, Bihar, Jharkhand, Uttarakhand
and Orissa.
Tenders have to be submitted by Jul 14, while the auction date
will be announced later.
.
States Value of property
Reserve price
(in mln rupees)
Land & building Tower
Western U.P. & Uttarakhand 91.28 100.46
191.75
Eastern U.P. & Bihar 12.61 56.69
69.30
Jharkhand & Orissa 9.12 59.36
68.48
.
At 12:31PM, shares of IFCI were at 59 rupees on the National Stock
Exchange, up 0.7% from close Monday. End
Tuesday, Jun 10
IFCI Ltd. has invited bids to sell telecom towers belonging to
Koshika Telecom, a defunct mobile service provider belonging to Vinay
Rai's Usha Group.
IFCI plans to recover 2.33 bln rupees that it had lent to the
company, according to a notice posted on IFCI's Web site.
Besides telecom towers, the auction will also include land and
building in the states of Uttar Pradesh, Bihar, Jharkhand, Uttarakhand
and Orissa.
Tenders have to be submitted by Jul 14, while the auction date
will be announced later.
.
States Value of property
Reserve price
(in mln rupees)
Land & building Tower
Western U.P. & Uttarakhand 91.28 100.46
191.75
Eastern U.P. & Bihar 12.61 56.69
69.30
Jharkhand & Orissa 9.12 59.36
68.48
.
At 12:31PM, shares of IFCI were at 59 rupees on the National Stock
Exchange, up 0.7% from close Monday. End
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