Anil Ambani Group plans to list 4 companies by Q1 2006

MUMBAI: Anil Ambani is listing four of his companies including the telecom venture formed via a spin off of Reliance Industries Ltd (RIL) on the stock exchange by the first quarter of 2006.

The Anil Dhirubhai Ambani Group will attempt to list Reliance Communications Ventures, Reliance Energy Ventures, Reliance Capital Ventures and Global Fuel Management Services at the earliest.

Reliance Communications Ventures is the telecom arm of the ADA Group holding Reliance Infocomm and the GSM business. Ambani has ambitious plans of rolling out IPTV and has also applied for a licence to operate direct-to-home (DTH) business.

As part of his entertainment plans, he acquired Adlabs Films which is into film processing and multiplex business. Adlabs is also looking at foraying into the private FM radio sector.

The ADA group will seek an approval from the capital market regulator Securities & Exchange Board of India (SEBI) to list shares in the four companies without making an initial public offering (IPO), it said in a release.

Under the terms of an agreement approved by RIL's board in August 2005 and sanctioned by the Bombay High Court earlier this month, RIL shareholders will get free shares in the four companies. The release adds that only those investors, who buy shares in RIL on or before 17 January, would be entitled to free shares in the four companies.

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