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VSNL Seamless Services Limited likely to list on the stock markets abroad. - Views on News from Equitymaster
 
 
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  • Mar 28, 2000

    VSNL Seamless Services Limited likely to list on the stock markets abroad.

    VSNL Seamless Services Ltd. is likely to tap the capital markets abroad in order to fund its expansion plans.

    VSNL Seamless Services Limited is a wholly owned subsidiary of Videsh Sanchar Nigam Limited (VSNL) and is engaged in the business of Internet and related value added services such as e-commerce etc. VSNL is a government owned telecom major that also provides Internet related services.

    VSNL will hold 50% of the stake in the company, with the balance going in to strategic partners and overseas investors.

    This will enable VSNL to focus on core areas, which include gateway services, fibre optics and leased carrier services. Presently Internet related business contributes Rs 2,500 m of the companyís turnover and is likely to double in the course of the next two years.

    The present move will enable both the companies to focus on the niche areas and add to the bottomline of the company.

    This will also enable VSNL Seamless Services Limited to provide better services to itís current subscriber base of 330,000. This has become vitally important in view of the mushrooming of Internet service providers which requires the provision of quality Internet services at reasonable prices.

    In order to combat the proliferation of private Internet service providers, VSNL Seamless Services Ltd. is planning to increase its bandwidth and also bring down its prices. The proposed listing on mostly NASDAQ will raise resources for the improvement in the quality of services and the expansion of services.

     

     

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