Reliance Infratel, RCOM’s tower subsidiary, is soon likely to file a draft red herring prospectus (DRHP) for its proposed Rs 50 billion initial public offering (IPO).

Reliance Infratel, RCOM’s tower subsidiary, is soon likely to file a draft red herring prospectus (DRHP) for its proposed Rs 50 billion initial public offering (IPO). The company intends to raise about Rs 50 billion by offloading a minimum 10 per cent stake. It had received the Securities and Exchange Board of India’s approval for an IPO in 2008, but had delayed the issue due to the recessionary market conditions.