Business group Videocon will start rolling out its telecom network from mid August, and is eyeing to gain around 10 percent of the Indian telecom market by 2013.

On the sidelines of a conference, Venugopal Dhoot said, “The group is aiming for 50 million subscribers in five years. The Indian market will have crossed 500 million by then.”

Videocon, which has received licences to provide telecoms services across the country, has got spectrum in three circles and looking for the rest.

"We will start rolling out network from August 15 in Chennai,” Mr. Dhoot said.

He also said that Middle East telecommunications firms including Emirates Telecommunications Corp of the UAE and Qatar Telecom for tie-ups in India has approached Videocon for tie-ups in India.

The firm had selected investment bank Morgan Stanley to suggest it on the telecommunication business and any potential stake sales, he said.

Previously, the electronics major had also showed confidence about acquiring Motorola Inc's handset business.