The recently clicked deal between GTL and mobile operator Aircel wherein the former has acquired the telecom towers arm of Aircel, has infrastructure players reviewing their respective valuation.

Reliance Infratel which has filed for IPO to offload 10% of equity, is upbeat on the market price which it will command if the GTL-Aircel deal is taken as a reference.

GTL is set to pay Aircel Rs 48 lakh per tower for the 17,500 towers owned by Aircel at a total value of around Rs 8,500 crore. Reliance Infratel says that  with this as a reference, its valuation for the 50,000 towers owned by it comes to $ 10 billion.

The company claims that its tenancy ratio (1:2) is better than stand-alone player, GTL Infra (1:1). It says there is potential to scale the tenancy ratio to over 4 to 7.

Moreover as per Reliance Infratel, its telecom towers have optic backhaul connectivity as compared to microwave connectivity of GTL-Aircel towers. Reliance Infratel sees this as an added value in its assets.

SEBI has reportedly cleared the company’s IPO proposal.