BPL Mobile Seeking Funding for Indian Expansion

India's BPL Mobile is understood to be seeking funding to support its networks expansion plans. The company, which currently operates in 5 of the country's licensed circles has been granted initial letters granting it permission to expand into the remaining 22 circles and create a national operator.

While the company is awaiting the allocation of radio spectrum, it is seeking to raise upwards of US$2.5 billion to fund the network rollout.

Confirming the development, Director and Chief Executive Officer (CEO) S Subramaniam told the Business Standard newspaper "We have received the LoIs and paid licence fees for starting the mobile operations across the country. Now, we are getting our financials tied up, while we await spectrum allocation."

The company is aiming to build a network which is capable of supporting at least one million GSM lines per circle.

According to figures from the Mobile World databases, the company ended last year with just under 1.3 million subscribers - despite having been operating since 1995.

On the web: Mobile World - Business Standard

Posted to the site on 28th January 2008