Reliance Infocomm valuation

Posted on | June 29, 2005 |

Reliance Infocomm which has a subscriber base of 11 million across 20 circles has been valued at around Rs 22,500 crore.

In the first major step towards untangling the cross-holdings in the Reliance group companies as part of the settlement between the Ambani brothers, the board of Reliance Industries Limited (RIL) on Tuesday decided to hike its stake in its telecom venture Reliance Infocomm to 65.9% by conversion of preference shares into equity.
The conversion price is Rs 32 a share (face value: Re 1). The move has also enabled the first possible authentic equity valuation of the company at around Rs 22,500 crore.

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