www.WirelessFederation.com/news: An investment of 700 crore($1.4 billion) for acquisition of 3G spectrum and roll out of services in India has been announced by telecom operator S Tel, a joint venture between the Siva group and Bahrain-based Batelco. Rs 338 crore is planned to be raised by the company through a 1:1 debt to equity ratio towards license fee payment for the three circles of Bihar & Jharkhand, Odisha and Himachal Pradesh. The company has already tied the debt with Indian nationalized banks through a bridge loan and the company is set to meet the timelines stipulated by the Department of Telecom.