Reliance Infratel: A New Anil Ambani's Arm to Take Control of Indian Communication Mart

Anil Ambani Eying on Communication Sector for growth

Anil Ambani owned Reliance Communications has announced its decision that company has filed a prospectus with the for initial share sale for Reliance Infratel, a propose company to build operate and lease Communication Towers to tall telecoms players in India.

Mumbai (ABC Live): Anil Ambani owned Reliance Communications has announced its decision that company has filed a prospectus with the for initial share sale for Reliance Infratel, a propose company to build operate and lease Communication Towers to tall telecoms players in India.

The proposed issue of 8,91,64,100 equity shares of INR 5 each for cash and premium on it will be determine will be through the 100 per cent book building process. The issue will constitute 10.05 %of the post-issue paid-up equity capital of the company.

The lead managers of the issue are M Financial Consultants, J.P. Morgan India, ABN AMRO Securities (India), Deutsche Equities India, Enam Securities, ICICI Securities, Lehman Brothers Securities, Macquarie India Advisory Services and UBS Securities .

On allotment of shares company assured that minimum of 60 per cent shares will issue to the public

The company is part of the Anil Dhirubhai Ambani group and it will work to build own and operate telecommunication towers and all related works business service under long terms contracts with wireless service providers and other communications service providers.