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Reliance Infratel IPO which was like planned soon after the reliance power ipo finally got the nod from SEBI and its going to go ahead with the IPO ,The company is looking to raise Rs 5000-6000 crore via 10% diluation.Reliance Communication holds 95% stake in Reliance Infratel.
Reliance Power Bonus issue is a strategy to create a very good investor relation and as they need more fund for all other company through IPO they are making sure that the retailers and other investor are happy , The next big IPo coming from them is Reliance Infratel IPO.
Reliance infratel IPO will also offer the similiar type of discount for retail investor and partial payment option for the investors like Reliance power ipo, but one thing is clear i will pay the app this time fully and not partial , i heard some people got like 45 shares when they paid like 1 lac for the same 225 shares.Anyawya will post more on the payment option whenever the info comes out .
About Reliance Infratel
The Company is part of the Reliance Anil Dhirubhai Ambani group and its business is to build, own and operate telecommunication towers and related assets at designated sites and to provide these passive telecommunication infrastructure assets on a shared basis to wireless service providers and other communications service providers under long-term contracts.These customers use the space on the Company’s telecommunication towers to install their active communication-related equipment to operate their wireless communications networks.
About Reliance Infratel IPO Issue
Reliance Communications Ltd has announced that the Reliance Infratel Ltd, (the “Company”), subsidiary of the Company proposes an initial public offering of 8,91,64,100 Equity Shares of Rs 5 each (”Equity Shares”) for cash at a premium (the “issue”) to be decided through the 100% book building process. The Issue will constitute 10.05% of the post-Issue paid-up
equity capital of the Company.
DRHP with SEBI
The Company has filed its Draft Red Herring Prospectus (”DRHP”) with the Securities and Exchange Board of India (”SEBI”), on February 04, 2008.
Issue Allocation
QIB - 60 percent and Mutual Fund 5 percent out of it .
Retail - 30 percent
Non-Institutional Bidders - 10 percent
Issue Purpose
The Issue proceeds are proposed to be utilized to finance the development of passive infrastructure sites and for general corporate purposes.
Reliance Infratel, a subsidiary of Reliance Communications, has filed its DRHP with market regulator, Sebi today, reports CNBC-TV18.So the previous post i was not sure of the company name and now they have tghe name its Reliance infratel .