In what could be the mother of all Indian IPO’s, state owned telecom company, BSNL is slated to come out with its maiden public offer which could make it the second most valuable Indian company with a market cap of Rs.400,000 crore just behind Reliance Industries and equal the market cap of all 6 listed telecom operators in India put together.
BSNL needs Rs. 60,000 crore to expand its network and scale up infrastructure to add 10 crore GSM lines by 2010 and as such it is planning an IPO in India followed by listing at NYSE or NASDAQ.
