Reliance Infratel files for IPO
Reliance Communications has announced its tower unit Reliance Infratel has filed a prospectus with the regulator for initial share sale.
By INDIATIMES NEWS NETWORK |
MUMBAI: Reliance Communications has announced its tower unit Reliance Infratel has filed a prospectus with the regulator for initial share sale.
The issue of 8,91,64,100 equity shares of Rs 5 each for cash at a premium will be decided through the 100 per cent book building process. The issue will constitute 10.05 per cent of the post-issue paid-up equity capital of the company.
At least 60 per cent of the issue to the public will be allocated on a proportionate basis to qualified institutional buyers, of which 5 per cent will be available for allocation to mutual funds only and the remaining QIB portion will be allocated to all the QIB bidders, including mutual funds, subject to valid bids being received at or above the issue price.
Not less than 30% of the issue will be available for allocation on a proportionate basis to the retail individual bidders and not less than 10 per cent of the issue will be allocated to non-institutional bidders.
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.
The issue proceeds are proposed to be utilized to finance the development of passive infrastructure sites and for general corporate purposes.
JM 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 India are the book running lead managers to the issue.
The issue of 8,91,64,100 equity shares of Rs 5 each for cash at a premium will be decided through the 100 per cent book building process. The issue will constitute 10.05 per cent of the post-issue paid-up equity capital of the company.
At least 60 per cent of the issue to the public will be allocated on a proportionate basis to qualified institutional buyers, of which 5 per cent will be available for allocation to mutual funds only and the remaining QIB portion will be allocated to all the QIB bidders, including mutual funds, subject to valid bids being received at or above the issue price.
Not less than 30% of the issue will be available for allocation on a proportionate basis to the retail individual bidders and not less than 10 per cent of the issue will be allocated to non-institutional bidders.
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.
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The issue proceeds are proposed to be utilized to finance the development of passive infrastructure sites and for general corporate purposes.
JM 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 India are the book running lead managers to the issue.
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