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Reliance Infocomm is said to be under pressure to place shares privately to aid its expansion as an IPO is in the offing sometime next year, reports Business Standard.

“Infocomm should do this (private placement) as soon as possible,” said Kobita Desai, a senior telecoms analyst with Gartner Research. “They need the IPO to accelerate their expansion plans.”

Financial Times had earlier reported the company had secured commitments for its share placement from Citibank Private Equity, Carlyle, Deutsche Bank, CVC Ventures, Blackstone, and Temasek. (Via Business Standard)