The company made this announcement after market hours on Tuesday, 27 December 2011.

Meanwhile, the BSE Sensex was down 109.09 points, or 0.69% to 15,764.86.

On BSE, 3.12 lakh shares were traded in the counter as against average daily volume of 3.44 lakh shares in the past one quarter.

The stock hit a high of Rs 9.55 and a low of Rs 9 so far during the day. The stock had hit a record low of Rs 7.01 on 20 December 2011. The stock had hit a 52-week high of Rs 44.10 on 5 January 2011.

The stock had outperformed the market over the past one month till 27 December 2011, rising 6.11% compared with Sensex's 1.14% rise. The scrip had, however, underperformed the market over the past one quarter, declining 26.53% as against Sensex's 3.93% fall.

The small-cap telecom tower operator has an equity capital of Rs 957.35 crore. Face value per share is Rs 10.

GTL Infrastructure said that its board will meet on Thursday, 29 December 2011, to consider the letter of approval (LoA) received from Corporate Debt Restructuring (CDR) Cell, Mumbai in respect of restructuring of the company's debt and other related matters. The board will also consider the withdrawal of scheme of arrangement between the company and Chennai Network Infrastructure and consider fresh scheme of arrangement.

GTL Infrastructure reported a net loss of Rs 208.48 crore in Q2 September 2011, higher than net loss of Rs 16.17 crore in Q2 September 2010. Net sales rose 15.1% to Rs 134.23 crore in Q2 September 2011 over Q2 September 2010.

GTL Infrastructure, a Global Group enterprise, is in the business of shared passive telecom infrastructure in India. The company has a portfolio of over 30,000 telecom towers located across India.