Reliance Infocomm may go public in 2005, Mukesh Ambani, chairman of Reliance Industries said in New York on Thursday.
The sale of shares in Reliance Infocomm will be "as soon as we have finished the roll out of our broadband Internet services," Ambani said.
Ambani said the company should announce its initial public offer sometime in late 2005 or early 2006, Bloomberg reports.
Ambani was in New York to attend the two-day investors forum that started on Wednesday.
Reliance Infocomm, which has emerged as India's largest mobile phone company, is adding nearly 4,000 cities and towns to its mobile network.
"With the rapid growth that the telecommunication sector is witnessing, Reliance would not have any problem attracting investors," Bloomberg said, quoting Sanjay Dongre, who manages about$ 237 million in stocks at UTI Asset Management Company in Mumbai.
According to the report, Reliance Infocomm posted a net loss of about $85 million in the year ended March 31, 2004, its first year of operations, after it wrote off unpaid bills by some of its customers.
It had 8.69 million subscribers at the end of August, compared with 8.33 million in the previous month, including fixed line users, the report said.