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(RIL) has offered to buy out Reliance Infratel for Rs 3,600 crore, payable in 60 days — the highest bid of upfront cash for the company, said sources. Bharti Airtel, said sources involved in the process, has bid much lower at around Rs 1,800 crore.Reliance Infratel, which controls towers and fibre assets, is one of the three companies that are on offer as part of the process under the Insolvency and Bankruptcy Code (IBC). The other two are Reliance Communications (RCom) and Reliance Telecom, which house the spectrum assets. RCom has real estate assets and enterprise businesses also.
In a meeting of the committee of creditors held on Friday, SBI Caps, which is undertaking a detailed evaluation of the bids, asked for more time to evaluate other competing bids, many of which are based on conditions including staggered payment rather than an upfront offer.
According to a top source, the process could take one to two weeks before a final announcement is made.