Anil Ambani group company Reliance Infratel is diluting 5 per cent stake to a clutch of American and European investors in a pre-IPO placement, a deal that values the company at about Rs 50,000 crore (Rs 500 billion).
Reliance Infratel officials declined to comment.
Sources, however, said that the company has entered into a deal with some American and European investors for the pre-IPO placement.
The latest deal values the company at around Rs 50,000 crore (Rs 500 billion) while the earlier 5 per cent stake dilution that Reliance Infratel had made, valued the company at about Rs 28,000 crore (Rs 280 billion).
The company had earlier privately placed 5 per cent stake to a group of institutional investors. Reliance Telecom Infrastructure sold the stake for Rs 1,400 crore (14 billion)
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