RCOM files DRHP for infra unit Reliance Infratel

Reliance Communications (RCOM) said its telecom tower subsidiary Reliance Infratel has filed the draft red herring prospectus (DRHP) for its initial public offering (IPO) with capital market regulator Securities & Exchange Board of India (SEBI). Reliance Infratel, a passive telecom infrastructure provider, is planning an IPO for divesting 15.60 crore equity shares of Rs 10 each for cash at a premium to be decided through a 100% book building process. The net issue would constitute 10% of the post-issue paid-up equity capital of the company.