R.Com board approves Rel Infratel IPO

by khalid on 23/09/2009 · 1 comment

reliance infratel

Reliance Communication’s board approved the proposal for Reliance Infratel IPO and would also consider fund raising through qualified institutional placement ( QIP ) basis at an appropriate time. The draft red herring prospectus (DRHP ) for the said Reliance Infra IPO will be filed with SEBI shortly.

The net amount of issue would constitute 10 per cent of the post-issue paid-up equity capital of the company and it would be aroumd Rs 5000 crore.

Reliance Comm. had a revenue of Rs 15,000 crore in FY08 that has gone up 200 per cent to Rs 50000 crore in FY09 and profits has expanded 400 per cent at Rs 1700 crore.

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Online Stock Investing September 30, 2009

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