Tata Comm explores options to raise funds

Tata Communications is exploring multiple options of fund-raising to finance its growth plans, a top company official said.

"We have been considering various options to raise money through debt as well as equity, as as we have large growth plans and want to enter new markets," Tata Communications' Senior Vice President (Corporate Strategy) Srinivasa Addepalli said on the sidelines of a conference today.

The company has drawn up $2-billion expansion plan over three years to enhance its robust global infrastructure.

It has also announced the investment plans of $430-million in an Asian Internet data centre and cable system.

"We have raised nearly $360-million in the last few months, which includes long-term debt in October-November 2008, Addepalli said.

"We have been raising funds through debt in the last few months, however, we have no plans to raise money through a rights issue," he said.