Reliance Infratel files for IPO
The telecom infrastructure unit of Reliance Communications, Reliance Infratel Ltd is planning to enter the capital market with an IPO of 8.91 crore shares constituting 10.05 percent of its post issue paid up equity capital of the subsidiary, the face value of the share is decided to be at Rs 5 each.Â
The company had recently raised 1400 crore by selling a 5 percent stake to a number of global financial investors which fetched a valuation of Rs 28,000 crore for Reliance Infratel. The funds raised through the IPO will be used to finance passive infrastructure sites and for other general corporate puroses, The breakup of allotment is as follows
Qualified Institutional investors : 60 per cent
Non Institutional investors : 10 per cent
Retail participants               : 30 per cent