Sistema Shyam TeleServices Ltd (SSTL) received a loan of Rs.1,000 crore from the State Bank of India with JFSC Sistema serving as the corporate guarantor. Earlier the SBI had conferred Rs.4500 Cr fund and non fund based limit to SSTL. 

STTL plans to utilise the funds to expand its MTS brand further in India. A part of the funds will also serve the capex and opex of the company.

“This loan from State Bank of India illustrates the trust garnered by MTS in the financial community, through its robust business plan and facilitates in executing our expansion plans on time. The amount will be utilized to fund our expansion plans and to introduce new products and services in the most competitive telecom market of India”, said Mr. Ilya Kosolapov, Corporate Finance and Treasury Director, SSTL.