Quippo Telecom Infrastructure Ltd (QTIL) is reportedly planning to increase its telecom towers from the current figure of 5,000 to 25,000 by 2010 and is therefore planning to raise $ 600 million to fund its business plans.

The funds would be raised using a combination of debt and equity route.

Reports say that the company has already raised $ 185 million funds and has appointed -based investment bank Euromax Capital as one of the advisors as one of the advisors.

The company is also speculated to be in talks with Essar group for a possible stake offloading.

Quippo recently raised Rs 480 crore by offloading 18.74% stake to Oman Investment Fund and another Rs 300 crore through 12.19% stake offloading each to Quippo Infrastructure, DB Zwirn, IDFC Private Equity.

Quippo and Tata Teleservices are also reported to be in talks for the latter’s telecom infrastructure arm.