Reliance Infratel’s IPO is postponed.
Another history in stock market not made when most awaited IPO of Reliance Infratel, the telecom infrastructure unit of Reliance Communications has been postponed to come in open market. ADAG (Anil Dhirubhai Ambani Group) does not want bring the IPO of Reliance Infratel, in this unstable condition of market where ADAG has loosed Rs. 2,00,000 Crores.
The outer deadline for completion of its IPO was August 11. A company has to complete the IPO process within 90 days after obtaining SEBI’s observations on its draft red herring prospectus. Earlier IPO of ADAG Reliance Power limited has listed below its issue price. After this incident all of investor of that IPO was in heavily loss. This was big lesson for market and investors that don’t believe on all IPO’s of Big Brand. Perhaps Anil Ambani blamed to Reliance Industries for this under price valuation of Reliance Power. The controversy between ADAG and Reliance Industries is going on till now on many points. In all of this situations ADAG doesn’t believe for good response of Reliance Infratel’s IPO. Lets watch when Anil likes the market for bring his next saga Reliance Infratel IPO.
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