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Reliance Infratel to raise funds in 2009: Anil Ambani

Reliance Infratel to raise funds in 2009: Anil Ambani
PTI
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First Published: Tue, Dec 30 2008. 07 12 PM IST
Updated: Tue, Dec 30 2008. 07 12 PM IST
Mumbai: Reliance Infratel, the infrastructure arm of Reliance Communications, is likely to raise funds from the market in 2009, Anil Ambani, chairman of the company, said on Tuesday.
Responding to queries on the possible IPO of Reliance Infra, he said it would depend on the state of the markets.
But he also said, “We will be open-minded on capital raising for Reliance Infra in 2009.”
However, he didn’t indicate the amount the company would raise, nor did he mention whether it would be only equity or a combination of debt and equity.
He said the company has been swamped by requests from a number of new entrants in telecom wanting to make use of RComm’s infrastructure like telecom towers.
It will increase the valuation of the company and the company will announce the infra sharing plans soon, he added.
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First Published: Tue, Dec 30 2008. 07 12 PM IST