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SEBI gives okay to Reliance Infratel IPO
Market regulator SEBI is understood to have cleared the first public sale (IPO) Anil Ambani group company Reliance Infratel.
Reliance Infratel is the telecommunications infrastructure division of Reliance Communications Ltd
According to sources, Reliance Infratel would offer 10 percent equity to the public valued at Rs 5000-6000 crore.
So, for each tower that the company has, there is an extra rent, which is Reliance GSM, and in addition the company has expanded its tower base significantly. Back then in July 2006, about 13,000 towers, now it has around 35,000 towers and hopes to add another 20,000 towers by the end of this fiscal, and also it is to look at the active infrastructure sharing agreements with other players. It is very close to signing the common infrastructure pacts with Shyam Telecom and BSNL it because of these triggers the company is seeking a higher valuation. There is no word yet on when the IPO would hit the markets, we have to understand that it will be later this year, but the exact timing is not yet prepared.
