Reliance Infratel IPO

by khalid on 02/09/2009 · 0 comments

reliance infratel

Reliance Infratel is the telecoms tower unit of Indian’s second largest mobile operator Reliance Communications Ltd. The company is looking to raise Rs 5,000 crore ($1 billion) through the Initial Public Offer ( IPO ) and is planning to file draft with SEBI next week.

Reliance Infratel aims to sell at least 10 per cent of its stake to help fund its expansion plans. Last year in February the company had tried to offer 10 per cent of its stake through the IPO but a slump in equity markets worldwide, including in India, forced Reliance Infratel to shelve the plan.

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