The Economic Times newspaper reported that Reliance Communications said today aim to raise 50 billion to 60 billion rupees ($1.3 billion to $1.5 billion) in the IPO, quoting unnamed banking sources.
Last year, the mobile firm had sold a 5 percent stake in the unit to seven institutional investors for 14 billion rupees ($355 million) .
In January, group firm utility Reliance Power raised $3 billion in India's largest-ever IPO.
Reliance Infratel, which owns about 25,000 mobile towers, plans to expand them to 40,000 by March and to 60,000 a year later, Chairman Anil Ambani said in an investor conference call last week.
Last year, the mobile firm had sold a 5 percent stake in the unit to seven institutional investors for 14 billion rupees ($355 million) .
In January, group firm utility Reliance Power raised $3 billion in India's largest-ever IPO.
Reliance Infratel, which owns about 25,000 mobile towers, plans to expand them to 40,000 by March and to 60,000 a year later, Chairman Anil Ambani said in an investor conference call last week.
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