Reliance Infocomm raises $3 billion
August 15, 2005
According to news reports, Anil Ambani has secured investments worth $3 billion from private investors seeking a stake in Reliance Infocomm ahead of a stock market listing later this year. Citibank Private Equity, Carlyle, Deutsch Bank, CVC Ventures, Blackstone and Temasek have given in-principle commitments to this end. The pre-IPO placement of shares represents the last foreseeable chance to take a significant minority stake of 5 to 10 per cent in a national telecom operator.
The IPO, when it takes place, is expected to value Reliance Infocomm at $5 billion.
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