Reliance Communications fund raising plans
With buoyant capital markets around the world and an ever lasting appetite for Indian equity, Anil Ambani is all set to cash in on the boom.
Reliance Communications has planned several secondary offerings. Reliance Communications’ subsidiary, Flag Telecom, which is building the world’s largest next generation IP network maybe listed on the London Stock Exchange and raise $500 million.
RCom has received approval from the Union Finance Ministry to raise $1.2 Billion by means of an ADR offering which are likely to be listed on NASDAQ.
And this is not all, RCom plans to unlock the value of its hidden assets – Wireless Towers [both GSM & CDMA] by transferring them to a separare company, Reliance Telecom Infrastructure Limited [RTIL]. All new towers and related infrastructure will be set up by RTIL, with independent financing, thereby reducing capex requirements and leveraging on the company’s own balance sheet. American Towers is eyeing a 20% stake in RTIL.
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Anil Ambani may invent newer ways to tap the capital market and siphon out the people’s money. He will give good returns to the investors. This is possible because, the company is constantly devising ways and means to cheat the customers, most of whom do not protest or contest these devious mwthods. Here is a case of how I was cheated by them.
http://reliancemobilevictimsblog.blogspot.com/