Providence Invests $640m in Aditya Birla Telecom

Providence Equity Partners is investing $640 million in Indian wireless communications company Aditya Birla Telecom.

Providence’s investment, which is one of the largest private equity investments in India, will be used to fund the network rollout and ongoing operations of Aditya Birla Telecom.

Aditya Birla Telecom owns the telecom UAS license for the Bihar service area and will hold a 16% stake in Indus Towers, a joint venture company formed  by Vodafone Essar, Bharti Airtel and Idea Cellular to provide passive infrastructure services to various mobile operators in 16 telecom service areas.

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