Reliance Communications has revived plans for an initial public offering of its towers unit and could raise up to $900 million for a 10 percent stake, sources with direct knowledge of the deal said.
Reliance Infratel, which operates more than 48,000 telecommunications towers, is likely to file an application for the IPO with India's capital markets regulator this week, two banking sources with direct knowledge of the deal said.
India's IPO market has rebounded since mid-year after an 18-month lull, and Reliance Infratel's IPO could be the second largest this year after NHPC's $1.25 billion offering.
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