Indus Towers Limited which was formed after the merger of the tower assets of Bharti Airtel, Vodafone-Essar and Idea is planning to raise funds from the Indian stock markets through an IPO issue in the next calender year. Indus Towers IPO will raise funds for the cellular companies which will be used to install more towers and help improve the cellular network connectivity in India. Pre-IPO Indus Towers will have about 70,000 towers which is likely to be doubled post IPO. Indus Towers is targetting 200,000 towers by 2010. It is to be noted that both reliance and tata have their own independent tower networks which might also look at the IPO route to raise funds.

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