ibnlive » Business

Feb 05, 2008 at 08:59pm IST

Mukesh Ambani plans IPO to mop Rs 10,000 cr

New Delhi: If speculation in the market is to be believed, the Ambani brothers will battle it out on the IPO sweepstakes a few weeks from now.

According to reports, Mukesh Ambani controlled Reliance Fresh claimed the company is planning a mega public offering to mop 10,000 crore rupees from the capital market.

The draft red herring prospectus will be filed within a few days. Whereas Anil Ambani's Reliance Infratel filed its draft prospectus with SEBI for its initial public offering on Monday.

The company mainly builds, owns and manages telecom towers of R-Comm, is hoping to mop up Rs 6,000 crore from the market. If all goes according to the plan, both companies could hit the market around April-May of this year.

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