Videocon Group Chairman Venugopal Dhoot said that it may consider offloading about 26% stake in the telecom services arm.
“Many foreign companies are eyeing a stake in our company. We may dilute a stake of up to 26 per cent,” he said.
Dhoot valued the telecom services arm at about Rs 12,000 crore presently and said that the valuation may go up as it expands across India. Videocon is in the process of expanding its mobile services in 100 cities within 100 days of launch.
Videocon Telecommunications is currently offering services in Tamil Nadu, Gujarat and Mumbai circles.