Anil Ambani led Reliance Communications (RCom), India’s second biggest wireless operator, is consolidating its global business under the single umbrella brand of ‘Reliance Globalcom.’

Punit Garg, president, Reliance Globalcom stated that Reliance Globalcom, a division of RCom, will be headquartered in London, and will come up with an initial public offer (IPO) shortly.

“As this company is outside India and all its revenues are in foreign currencies, it is but natural that it will be listed on an exchange there, after evaluating where we can get the best possible investors,” said Mr. Punit Garg.

The consolidation process will get completed within the next 2-3 months.

Around $2 billion has been reserved for capital expenditure for the next three years by the unit, which would be spun off soon.

The group will also invest about $200 million for expanding its ethernet footprint, $300 million for establishing more data centres, and $1.5 billion for setting-up next generation under-sea cable networks in the African continent, Pacific, Mediterranean and a network connecting India and Honk Kong.

Mr. Garg said, “But why brings the companies under one umbrella? It’s a strategy to consolidate the global communications businesses into a single business group. The new subsidiary will deliver a broad portfolio of data and voice services spanning enterprise, wholesale, managed services, and consumer segments.”

Reliance Globalcom holds more than 20,000 km of fibre in the United States and runs one of the biggest carrier ethernet networks in the world, he added

He also said that RCom aspires to project a distinct image to consumers and business affiliates rather than 3-4 firms with separate names that causes confusion.

Reliance Globalcom would hit the worldwide telecommunication market that has addressable revenue prospective of $285 billion per annum. With the consolidation of the international business, it will have annualized start-up revenues of $1.32 billion and Ebidta of $334 million.

In order to tap the vast prospect in ethernet and application delivery services for worldwide enterprises, the company plans to swell the coverage of Yipes to 20 new markets. It will also open three new data centres in the US, Middle East and Asia over the next few quarters.