GTL Infra, with a market cap of almost Rs.1200 crore is today a penny stock, quoted even below Rs.5. The stock price has been seeing some action for the past couple of days, breaching upper circuits. It is today some 3% up at Rs.4.60. Its 52-week high and low stands at Rs.7.24 and Rs.1.63 respectively.

The unconfirmed news is that the private equity arm of IDFC – IDFC Alternatives is trying to pick up a controlling stake in the company, which is a telecom tower operator.

The rumour doing the rounds is that by June 2017, the company’s lenders, under the SDR will be putting their stakes for sales and at that time, IDFC Alternatives is expected to pick up stake.

No confirmation or denial yet from either IDFC or GTL