The tower unit of Reliance Communications, Reliance Infratel, has begun its pre-IPO process and is negotiating a 5% stake sale to strategic investors for around US$540m, according to reports.
JM Financial, JPMorgan, Deutsche Bank, Enam Securities, HSBC,…
The tower unit of Reliance Communications, Reliance Infratel, has begun its pre-IPO process and is negotiating a 5% stake sale to strategic investors for around US$540m, according to reports.
JM Financial, JPMorgan, Deutsche Bank, Enam Securities, HSBC, ICICI Securities, Macquarie and UBS are acting as arrangers to the offer.
In a draft prospectus, the company said it plans to sell 156 million shares, a 10% stake, through the IPO. US$1bn could be gleaned from the process.
The IPO values Infratel, which has 50,000 towers, at around US$10.9bn.
