India's largest integrated telecom service provider, Reliance Communications (RCom), has fixed an indicative price range for the subsea telecommunications infrastructure network business, to be listed on Singapore bourses. As mentioned in few media reports, business trust, Global Telecommunications Infrastructure Trust (GTI Trust), plans to sell between 642.2 million and 757.6 million units at a price range of $1.09 to $1.32 a unit.
Recently, Reliance Communications reported that it was evaluating a potential initial public offering and listing in Singapore of its subsea telecommunications infrastructure network business, through a Singapore business trust. The Initial Public Offering (IPO), that could raise as much as $1 billion, would help the parent company in reducing debt load. Billionaire Anil Ambani, controlled Reliance Communications is looking to raise funds for reducing its debt load of $7 billion as of March 2012.
