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Reliance Infratel May Place Another 5% Stake In Pre-IPO Deal: Report

Posted on May 16, 2008

The IPO-bound telecom tower company Reliance Infratel is selling a 5 per cent stake to certain unnamed US and European investors at a valuation of Rs 50,000 crore, which is interestingly the double of the valuation of the previous pre-IPO deal of Rs 28,000 crore in August last year. Press Trust of India today reported, quoting unnamed company sources, that the company has entered into a deal with some American and European investors for the pre-IPO placement.In August 2007, the company made a private equity placement of 5 per cent stake for Rs 1,400 crore to a group of institutional investors...

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