Reliance Communications (RCOM) is planning to list its tower subsidiary, Reliance Infratel, by March 2008. The company intends to raise $1.3-$1.5 billion through an initial public offering (IPO), offloading 10 per cent stake (89.2 million shares) of the post-issue capital in Reliance Infratel. The company has already filed the draft red herring prospectus.
