Bharat Telecom Limited, a telecoms joint venture between Mauritian and Indian investors, has been given the green light by the Stock Exchange of Mauritius to list on the local bourse, opening the way for its 16.7 million shares to trade on its secondary market. Reuters reports that Bharat shares will start trading from 11 July on the Mauritian Development and Enterprise Market. Initially, a total of 50,000 shares will be offered at an indicative price of MUR50 per share, the exchange said yesterday.
Last month, TeleGeography’s CommsUpdate reported that Bharat Telecom is looking to invest up to USD50 million to roll out 2,900km of fibre-optical network, covering Mauritius. It is understood that 200km will comprise a core 10Gbps network in underground ducts, while a further 2,700km of fibre will be deployed on poles belonging to the Central Electricity Board, consisting of ‘single core and 24 core fibre’. The telco intends to cover 70% of the population in phase one of the rollout, with the other 30% being connected under Phase 2 of the build. Speaking at the time, a spokesperson for the telco, Baljinder Sharmer, said that Bharat hopes to connect every home and business in Mauritius to fibre, adding that tests of fibre-to-the-home (FTTH) technology are already underway in one community and trials are due to ‘launch soon’.