Unitech Wireless

India’s second largest real estate player Unitech said it would dilute 26% in its telecom arm to a strategic foreign partner, for which it is in discussion with a few telcos.Unitech was one among the many unified licences issued by DoT earlier this year.Unitech Wireless, which has bagged a pan-India GSM license, has already got the crucial spectrum for five circles and the company is planning to roll out telecom services by the last quarter of the current financial year.To fund the telecom operations, it is considering to raise debt up to Rs 8,000 crore in the next five years once the company starts services. At a future date the company would spin off the telecom arm into a separate company. Unitech Wireless would bid in the auctioning of 3G spectrum.