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Journalism of Courage
Reliance Communications subsidiary Reliance Infratel is planning an initial public offer (IPO) and the company will shortly file its Draft Red Herring Prospectus (DRHP) with Sebi.
We are mulling a 10 per cent stake sale of equity of Reliance Infratel through an IPO. 85 per cent of the stake of the company will remain with Reliance Communications, RCom chairman Anil Ambani told shareholders at the companys AGM here today.
Reliance Infratel has expanded its portfolio of multi-tenancy towers to 48,000. We have now added 35,000 towers over the last two-years creating the largest supply base of plug and play telecom infrastructure,both for our internal network expansion and for the use of operators, he said. The company has recently transferred its optical fibre division to Reliance Infratel,Ambani said. In July,we signed a long-term infrastructure sharing agreement with Etisalat DB valued at over Rs 10,000 crore for a minimum period of ten years, he said.
