In New Delhi: Tikona Digital Networks (TDN), a new entrant in the wireless broadband market,has announced toroll out its Internet services in 50 cities in the current year.
The company will launch its services, using 4G (fourth generation) telecom technologies, for greater Internet speed and high level of security.
Our Tikona Wi-Bro service is now available in 10 cities and we plan to spend Rs 500 crore to expand our network nationally. We are currently building a network of over 40-lakh connections and plan to further expand it to help India achieve its ambitious broadband penetration goals, Prakash Bajpai, Founder, Managing Director and CEO, TDN hassaid.
Corporate are increasingly using Broadband to connect its extended enterprise comprising its dealers, distributors and employees working while on the move and from their homes. Superior customer experience and innovation are going to be the founding principles that will guide the roadmap of Tikonas broadband and IT service offering, Bajpai added
The company has offloaded its 70% stake to three private equity investors, including Goldman Sachs Investment Partners, Indivision India Partners and Oak India Investments, and has secured funds to the tune of Rs 500 crore to fund its expansion plans.
It is looking at raising additional funds of up to Rs 1,200 crore by 2011 and has already submitted its proposal to the Foreign Investment and Promotion Board (FIPB) to raise the foreign direct investment (FDI) in the firm to 74% by issue of compulsorily convertible debentures (CCDs) and equity shares to existing and new foreign investors.
The company informed that it is offering wireless broadband service starting at Rs 449.
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