Reliance Infratel files draft prospectus with Sebi

Anil Ambani group firm Reliance Communications (RCom) today said its telecom tower subsidiary Reliance Infratel has filed the draft prospectus for its initial public offer with market regulator Securities and Exchange Board of India (Sebi).

"Reliance Infratel has filed its draft red herring Prospectus (DRHP) with Sebi," RCom said in a filing to the Bombay Stock Exchange.

Reliance Infratel, a passive telecom infrastructure provider, is planning an IPO for divesting 15.60 crore equity shares of Rs 10 each for cash at a premium to be decided through a 100 per cent book building process.

The net issue would constitute 10 per cent of the post-issue paid-up equity capital of the company, the statement said.