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Reliance Communications Ventures Limited plans a $1 billion sponsored secondary market offering overseas

May 15, 2006
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Reliance Communications Ventures Limited (RCoVL) is reportedly planning a $1 billion sponsored secondary market offering overseas.

RCoVL was listed on the BSE and the NSE on March 6, 2006. It is likely to offer 6 per cent to 7 per cent of its paid-up equity share capital in the overseas market through a GDR/ADR issue. The transaction will take place in two tranches. While the bulk of the shares would be offered to strategic investors, the other tranche would be sold only to Japanese retail and institutional investors.

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