The telecom tower alliance between, Tata Teleservices and Srei Infrastructure’s Quippo, Wireless Tata Tele Info Services plans to raise about Rs.1,500 crore by way of issue of fresh shares.

This was stated by Srei Infrastructure Finance Chairman, Hemant Kanoria. "Raising funds is an ongoing process. Tata-Quippo is in talks with both overseas and domestic investors to raise funds," he said.

The Chairman also confirmed that the firm was in talks with a fund set up by Australia-based Macquarie and State Bank of India for a likely stake sale.

While currently, Tata holds 55% stake and Quippo holds the remaining, the issuance of fresh equity will result in the stake being diluted by 2 % to 5%.