Reliance Infocomm, part of the Anil Dhirubhai Ambani Enterprises (ADAE) Group, is reportedly contemplating a $1 billion pre-IPO private placement. The ADAE Group is looking to sell around 10 per cent of Infocomm's equity, which would value the company at around $10 billion, or just under Rs 440 billion. Reliance Infocomm posted a net profit of Rs 510 million on a turnover of Rs 53.87 billion in 2004-05. In 2003-04, it had a loss of Rs 1.7 billion on a turnover of Rs 27.07 billion.