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Sistema Shyam to finalise listing plans soon
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Quote:Sistema Shyam Teleservices, a joint venture company between Russia’s Sistema and India’s Shyam Group, is planning to enter the market with an initial public offer (IPO), and hopes to firm up plans in the next 6-9 months, according to Vsevolod Rozanov, president & CEO of Sistema Shyam.

The company franchises MTS, which is Russia’s largest mobile phone operator, to India. “We are evaluating market conditions and will be firm on technical listing in the next few months,” he said. Sistema is a majority shareholder in this joint venture with 73.71% equity stake and the Shyam group holding a 23.79% stake. The balance 2.5% stake is held by other investors.

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