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February 6, 2008

Reliance Infratel Ltd - IPO

Reliance Infratel Ltd (RIL), a subsidiary of Reliance Communications Ltd, filed its DRHP with SEBI for an IPO of 8.91 crore equity shares of Rs 5 each through the 100 per cent book building process.

The issue will constitute 10.05 per cent of the post-issue paid-up equity capital of the company.

The object of the issue is to finance the development of passive infrastructure sites and for general corporate purposes.

RIL is in the business of operating telecommunication towers and related assets at designated sites and to provide these passive telecommunication infrastructure assets on a shared basis to wireless service providers and other communications service providers under longterm contracts.

Looks like the price range for issue will be Rs 350 to Rs 400 and is likely to raise about Rs 4000 crore.

The key book running lead managers to the issue are JM Financial Consultants, JP Morgan India, ABN AMRO Securities, Deutsche Equities India, Enam Securities, ICICI Securities, Lehman Brothers, Macquarie India Advisory Services, and UBS Securities.

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