Tuesday, August 05, 2008

'Rel Infra, Globalcom IPO only after markets stabilise' - Anil Ambani

Reliance ADAG Chairman Anil Ambani on Thursday said inital public offering of two group companies Rel Infra, Globalcom would commence only after the volatility in global and domestic market subsides.

“We have received the approvals on the Red Herring Prospectus… The volatility in global and Indian capital markets is what we are watching,” he said, adding that a decision would be taken at an appropriate time.

Replying to queries on the IPO of Reliance Infratel in India and listing of Globalcom in London, he told market analyst, “When we find an appropriate time, I am sure that we will proceed both with Globalcom and Reliance Infratel.
“We are using this time to complete the roll out on Infratel and also in our negotiations with our prospective customers for Globalcom”, he said in his post financial result conference.

Courtesy: greymarket.in

1 comments:

share said...

Hi,

Once again after crash Nifty has started going up. Now we suggest all rises should be used as an opportunity to exit old long positions.
This bull run will continue for few more days. Overall market is in bearish mood as in medium term its just a small rally due to short covering
and result season.


Happy Trading,

ShareGyan

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