Reliance Infratel, a subsidiary of Reliance Communications (RCom) has filed its draft red herring prospectus for an initial public offer (IPO) with the Securities and Exchange Board of india (Sebi). The company will offer 8,91,64,100 shares of Rs 5 each for cash, constituting 10.05% of its post-issue paid-up equity capital.The ADAG-group promoted company's business is to build,own and operate tele-communication towers and related assets at designated sites and to provide these passive telecommunication on a shared basis to wireless service providers and other communications service providers under long-term contracts. These customers use the space on the Reliance Infratel's telecommunication towers to install their active communication-related equipment to operate their wireless communications networks.The issue proceeds will be utilised to finance development of passive infrastructure sites and for general corporate purposes. The shares will be listed on the BSE and the NSE.JM Financial Consultants, JP Morgan India, ABN AMRO Securities (India), Deutsche Equities India, Enam Securities, ICICI Securities, Lehman Brothers Securities, Macquarie India Advisory Services and UBS Securities India are acting as the book running lead managers (BRLMs) to the issue whilst HSBC Securities and Capital Markets (India), Kotak Mahindra Capital Company and SBI Capital Markets are acting as co-book running lead managers. Amarchand & Mangaldas & Suresh A Shroff & Co is advising the company while Linklaters Allen & Gledhill and Khaitan & Co are advising the BRLMs and CBRLMs in relation to the Issue.
