Telecom tower company Indus Towers has appointed Bimal Dayal as its CEO. Dayal was previously the chief operating officer at the company for over 6 years and succeeds BS Shantharaju, the CEO who retired last month. The company’s press statement added that Dayal has experience of over 28 years in companies like Ericsson (where he worked for almost 5 years), Qualcomm and Tata Telecom. Dayal holds a double Bachelor’s in engineering and law and is an alumnus of Delhi and Harvard University.
Ludhiana mobile towers: Last month, the Ludhiana Municipal Corporation sealed and cut power connections of 16 mobile towers belonging to VIOM and Indus Towers, 8 each. Previously, it had sealed 32 towers claiming that dues of Rs 5 crore were pending. The corporation said that it had a record of 300 towers in the region, while over 700 towers had been installed in the corporation limits. It is now working on developing a database to regularise the tower system.
In October 2015, American Tower Corporation (ATC) acquired 51% stake in Viom Networks, a joint venture between Tata Teleservices (TTSL) and Quippo (part of the Srei Group).
RJio agreement: In September 2014, Reliance Jio signed a master service agreement (MSA) for tower sharing with Indus Towers. As per the agreement, Indus Towers would provide Reliance Jio with towers based on existing market rates although further details, like the number of towers to be shared and the duration of the deal were undisclosed. In March 2014, it inked a tower infrastructure sharing pact with Viom Networks, a joint venture between Tata Teleservices and SREI Infrastructure.
Indus Towers is a three way joint venture between Airtel, Vodafone and Idea and services 11 operators across the country including Airtel, Tata, Uninor, Vodafone, MTNL etc. According to an ET report from last week, the company owns 130,000 towers, which is a third of all telecommunications towers in the country.
Recent exits from Indus:
– In October 2015, Snapdeal appointed Ashish Jain as SVP of investor relations and M&A (mergers & acquisitions) integrations. Jain worked as the business manager of CEO’s office at Indus Towers for over 1.5 years.
– In July 2015, Tata Teleservices appointed Anuraag Srivastava as its chief financial officer. Srivastava joined from Indus Towers where he was the senior VP of internal audit and assurance for a year.