Tags: Reliance, Reliance Anil Dhirubhai Ambani Group, Reliance Communications, Reliance Infratel

Reliance Infratel coming up with an IPO

Indian telecom company Reliance Communications has announced that their subsidiary Reliance Infratel is now working on launching their IPO in the coming months.

The company is planning to launch an issue of 8,91,64,100 equity shares of Rs 5 each for cash at a premium.

Reliance said that as many as 60 per cent of the issue to the public will be allocated on a proportionate basis to qualified institutional buyers.

Reliance Infratel is part of the growing Reliance Anil Dhirubhai Ambani group and they are in the business of owning and operating telecommunication towers and related assets.