Reliance Communications (RCOM) is reportedly looking to float an initial public offering worth Rs 75 billion for Flag Telecom this quarter.
It will then list the company on the Singapore Stock Exchange. Moreover, it is believed that the operator may sell up to 75 per cent of its holding in Flag Telecom.
The proceeds of the IPO would accrue to RCOM, which has appointed Deutsche Bank, DBS Singapore, Standard Chartered and Industrial and Commercial Bank of China as bankers to the issue.
