  Reliance Communications’ telecom infrastructure subsidiary, Reliance Infratel plans to raise Rs 2,500 crore by offloading 4-5 % stake by way of pre-IPO placement.
The company’s lead banker, JM Financial on Monday initiated talks with potential investors. Other co-lead managers of the IPO are JPMorgan, Enam Securities, Deutsche Bank, ICICI Securities and HSBC.
RCom had sold a 5 % stake in R-Infratel for Rs 1,400 crore to seven financial investors — George Soros, HSBC, Fortress Capital, New Silk, Galleon, DA Capital and GLG Capital in 2007. The deal valued the company at Rs 28,000 crore.
R-Infratel has 50,000 towers and an optic backhaul infrastructure across 25,000 towns and 600,000 Indian villages. |