​GTL Infra-Chennai Community mixed debt falls to Rs 4,193 cr

GTL Infrastructure Ltd, which has plans to emerge debt free within the subsequent 4 years, has decreased its mixed debt to Rs 4,193 crore, following the implementation of a Strategic Debt Restructuring (SDR) scheme.

The mixed debt consists of that of passive infrastructure sharing agency Chennai Community Infrastructure Ltd (CNIL).

The debt has been decreased to a “sustainable degree” put up SDR implementation on April 13, 2017, the corporate mentioned in a inventory trade submitting.

GTL Infra has now made a turnaround as previous to SDR, the corporate’s mixed debt was at Rs 8,553.46 crore. In FY 2011, the 2 entities debt stood at Rs 11,000 crore, as per earlier regulatory filings.

The mixed firm’s EBIDTA has additionally moved up from a low of Rs 593 crore in FY 2011 to Rs 1,121 crore in FY 16-17. The EBITDA is prone to exceed Rs 1,300 crore on this fiscal.

As of March 31, the mixed firm’s income from operations stood at Rs 2,286 crore.

GTL Infra is a World Group firm, whereas the opposite corporations within the fold are community companies agency GTL and passive infrastructure sharing agency Chennai Community Infrastructure Ltd. The group is headed by Chairman Manoj Tirodkar.

CNIL was a particular objective car shaped to park Aircel’s 17,500 telecom towers and 21,000 tenants, which GTL Infra purchased in 2010 for Rs 8,400 crore.

GTL Infra has additionally acquired the Competitors Fee of India’s approval for its proposed merger with Chennai Community Infrastructure Ltd (CNIL).

The merger is now topic to requisite statutory approvals, together with that of assorted Nationwide Firm Regulation Tribunals.

The merged entity will proceed to function as GTL Infra, whereas the proposed merger will create a big impartial and impartial telecom tower firm with presence throughout all 22 telecom circles. The mixed firm has 27,759 towers with 50,845 tenants as on March 31, 2017.

As a part of SDR, the businesses have been merged with a 1:1 share ratio for which it bought approvals as per regulatory filings.

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